WALTHAM, Mass., March 23, 2016 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Board of Directors has voted to increase the company's annual dividend payout rate by 9.3 percent, from $2.68 to $2.93 per share. The Board also authorized payment of a quarterly cash dividend of $0.7325 per outstanding share of common stock, to be paid on May 12, 2016, to shareholders of record as of the close of business on April 6, 2016. Payment of quarterly dividends is subject to Board authorization.
"With today's announcement, we have increased our annual dividend for 12 consecutive years," said Thomas A. Kennedy, Raytheon Chairman and CEO. "The dividend increase is a key part of our balanced capital deployment strategy, and reflects our confidence in the company's growth and financial outlook and our continued focus on creating value for shareholders."