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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; [email protected]

Stock News for Raytheon (RTN)
DateTimeHeadline
01/23/201717:04:42Current Report Filing (8-k)
01/23/201710:00:00U. S. Navy awards Raytheon $235 million for Standard Missile-6...
01/23/201709:00:00Raytheon and Center for Cyber Safety and Education expand cybersecurity...
01/18/201716:05:00James A. "Sandy" Winnefeld, Jr. elected to Raytheon Board of...
01/17/201708:00:00Raytheon Company to release 2016 fourth quarter and full-year...
01/17/201708:00:00Raytheon completes factory qualification testing of next-generation...
01/11/201712:30:00US Navy, Raytheon generate Tomahawk missile flight plans in real...
01/10/201712:10:00Standard Missile-6 approved for international sales
01/05/201717:27:52Statement of Changes in Beneficial Ownership (4)
12/29/201608:30:00Patriot nation awards Raytheon more than $600m to upgrade missile...
12/27/201609:42:00Raytheon to offer U.S. Army lowest-risk, next-gen training
12/21/201609:00:00Raytheon to produce NSA-certified encryption devices with next-generation...
12/21/201608:00:00Raytheon to demonstrate new tech for uninterrupted military communications...
12/19/201612:46:00Raytheon SM-6 intercepts ballistic missile target at sea
12/16/201608:00:00U.S. Air Force selects Raytheon F-16 mission computer
12/05/201615:30:00Human Rights Campaign names Raytheon a "Best Place to Work" for...
12/05/201608:30:00Raytheon, DARPA developing advanced tech to protect US power...
11/30/201617:21:50Statement of Changes in Beneficial Ownership (4)
11/30/201617:21:25Statement of Changes in Beneficial Ownership (4)
11/28/201608:30:00Raytheon wins $225m contract for increased Patriot missile defense...

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