HARTFORD, Conn., June 13, 2012 /PRNewswire/ -- United Technologies Corp. (NYSE:UTX) Board of Directors today declared, effective July 5, an 11.5 percent increase in its third quarter dividend to 53.5 cents per common share. The dividend will be payable Sept. 10 to shareowners of record at the close of business Aug. 17. The ex-dividend date will be Aug. 15.
"Increasing the dividend reflects our confidence that UTC's ongoing portfolio transformation, investments in game-changing technologies, and strong presence in emerging markets will sustain our solid cash flow and position us for long-term earnings growth," said UTC Chairman & Chief Executive Officer Louis Chenevert. "Both the International Aero Engines transaction and the Goodrich Corporation acquisition remain on track to close on the recently announced schedule."
UTC has paid cash dividends on its common stock every year since 1936.
Based in Hartford, Connecticut, UTC is a diversified company that provides high technology products and services to the aerospace and building industries worldwide.
This release includes "forward-looking statements" concerning expected earnings and cash flow. These matters are 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 deterioration in global economic conditions; declines in end market demand in residential and building construction; declines in demand in either the commercial or 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 factors including the availability and impact of acquisitions; the rate and ability to effectively integrate these acquired businesses; the ability to achieve cost reductions at planned levels; challenges in the design, development, production and support of advanced technologies and new products and services; delays and disruption in delivery of materials and services from suppliers; labor disputes; 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 included in UTC's 10-K and 10-Q Reports under the headings "Business," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Note Concerning Factors that May Affect Future Results," as well as the information included in UTC's Current Reports on Form 8-K.
SOURCE United Technologies Corp.