HARTFORD, Conn., April 13 /PRNewswire-FirstCall/ -- United Technologies Corp. (NYSE: UTX) Board of Directors today approved a two-for-one common stock split in the form of a stock dividend. Speaking at UTC's Annual Shareowners Meeting, Chairman and Chief Executive Officer George David said, "This is UTC's third two-for-one common stock split in the last nine years and obviously reflects our board's and management's confidence in UTC's outlook. We're thrilled." In addition, the directors declared a regular quarterly cash dividend of 44 cents on the pre-split common shares. Both the stock dividend resulting from the split and the cash dividend will be payable June 10 to shareholders of record at the close of business on May 20. The board also doubled the outstanding authorization for the repurchase of UTC common stock in keeping with the stock split. Based in Hartford, Conn., UTC is a diversified company that provides high technology products and services to the aerospace and building systems industries. UTC businesses include Otis Elevator, Carrier heating and cooling, UTC Fire & Security, UTC Power, Pratt & Whitney aircraft engines, Hamilton Sundstrand aerospace systems, and Sikorsky helicopters. This release includes a "forward-looking statement" concerning UTC's business outlook that is subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include the health of the global economy; strength of end market demand in building construction and in both the commercial and defense segments of the aerospace industry; fluctuation in commodity prices, interest rates, foreign currency exchange rates, and the impact of weather conditions; and company specific items including the availability and impact of acquisitions, the rate and ability to integrate these acquired businesses effectively, the ability to achieve cost reductions at planned levels, and the outcome of legal proceedings. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's SEC filings as submitted from time to time, including, but not limited to, the information in the "Business" section of UTC's Annual Report on Form 10-K, the information included in UTC's 10-K and 10-Q Reports under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations," and the information included in Current Reports on Form 8-K. Contact: Paul Jackson (860) 614-3899 http://www.utc.com
SOURCE United Technologies Corp.