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Raytheon Boosts Annual Dividend 16% In 8th Straight Increase

DOW JONES NEWSWIRES Raytheon Co. (RTN) will increase its annual dividend 16%, extending its streak of higher shareholder payouts for the eighth straight year. The 28-cent increase, to $2 a share, will cost the company about $95 million more each year. Raytheon on Wednesday also declared a 50-cent quarterly dividend as part of the increase. The company's quarterly payouts are subject to authorization by its board. The defense company's raised dividend follows a series of similar increases from a wide range of companies in recent months. Many corporations have boosterd payouts to investors of late to reassure them about future business prospects. Raytheon and other defense companies have been diversifying into growing areas such as cybersecurity and seeking international growth in response to lean U.S. defense spending. The company's latest fourth-quarter profit improved--despite weaker revenue--due to lower costs. "This dividend increase reflects our confidence in the company's future, and represents our continued dedication to a balanced capital deployment strategy made possible by Raytheon's strong financial position," Chairman and Chief Executive William H. Swanson said. Shares were up 1.6% at $52.31 after hours. The stock had climbed 9.3% over the past three months through Wednesday's close. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Raytheon (RTN)
DateTimeHeadline
05/03/201611:00:00Raytheon ramps up deliveries of small unmanned air systems
05/02/201608:30:00Raytheon developing technology to make software "immortal"
04/29/201608:00:00Raytheon to start production of first multi-spectral targeting...
04/28/201610:14:01Quarterly Report (10-q)
04/28/201608:20:00Raytheon Sales Rise But Profit Falls
04/28/201607:29:00Raytheon Sales Rise But Profit Falls
04/28/201607:02:43Current Report Filing (8-k)
04/28/201606:55:00Raytheon Reports Solid First Quarter 2016 Results
04/27/201616:00:00Forcepoint Names Matthew P. Moynahan as CEO
04/27/201612:01:00USS Coronado deploys with next-gen UAV controls from Raytheon
04/27/201606:30:52Proxy Statement (definitive) (def 14a)
04/26/201609:00:00U.S. Navy awards Raytheon up to $104 million for long-range radar...
04/24/201617:06:00University of Central Florida becomes winningest National Collegiate...
04/19/201608:00:00Raytheon Company to release first quarter 2016 results on April...
04/18/201608:00:00BMW Northern Europe awards comprehensive training outsource contract...
04/14/201608:21:00The U.S. Navy awards Raytheon $1B Next Generation Jammer Engineering...
04/12/201616:38:10Proxy Statement - Notice of Shareholders Meeting (preliminary...
04/12/201608:00:00Raytheon, U.S. Air Force successfully complete GPS OCX first...
04/11/201610:00:00Raytheon Company to showcase space mission expertise
04/06/201617:11:26Statement of Changes in Beneficial Ownership (4)

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