MORRIS PLAINS, N.J., April 25, 2016 /PRNewswire/ -- Honeywell (NYSE: HON) today announced that its Board of Directors has authorized the company to repurchase up to $5 billion of its common stock as part of its cash deployment strategy.
"Honeywell's strong balance sheet and free cash flow provide us with flexibility to execute a balanced cash deployment approach that includes reinvesting in our businesses, a healthy dividend that is growing at rates above our earnings growth, strategic acquisitions, and opportunistic share repurchases," said Dave Cote, Honeywell Chairman and CEO. "Our track record of successfully redeploying cash flow from operations has enabled us to smartly grow the company, while also continuing to deliver value to our shareowners in both the short- and long-term."
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.
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