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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
08/23/201608:00:00US Army awards Raytheon Long Range Precision Fires risk mitigation...
08/22/201610:51:00Raytheon awarded up to $104 million to modernize ground controls...
08/22/201608:00:00Raytheon unveils Cyber and Electromagnetic Battle Management...
08/19/201617:43:00Raytheon awarded US Navy Enterprise Air Surveillance Radar contract
08/17/201612:00:00Raytheon receives first contract to build Naval Strike Missile...
08/17/201609:00:00U.S. Navy conducts first live fire test with SeaRAM® recently...
08/15/201612:36:00Raytheon shows U.S. Army the future of missile defense
08/10/201609:00:00US, Raytheon go three-for-three in first firing of AIM-9X Sidewinder...
08/09/201609:20:00U.S. Productivity Fell in Second Quarter
08/04/201618:05:36Statement of Changes in Beneficial Ownership (4)
08/03/201609:00:00Raytheon receives $523 million for Standard Missile-3 production...
08/03/201608:00:00Raytheon team competing in DARPA cyber competition finals
08/01/201608:00:00Raytheon opens new cyber center in Augusta, Georgia
07/29/201608:00:00Raytheon to service Swiss radar warning receiver
07/29/201603:03:00Raytheon Joins March to Profits -- WSJ
07/28/201616:35:00Raytheon Boosts 2016 Guidance -- Update
07/28/201610:11:41Quarterly Report (10-q)
07/28/201609:42:00U.S. Hot Stocks: Hot Stocks to Watch
07/28/201607:50:00Raytheon Boosts 2016 Guidance
07/28/201607:45:00Raytheon Boosts 2016 Guidance -- Update

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