FARMINGTON, Conn., April 25, 2016 /PRNewswire/ -- The United Technologies Corp. (NYSE: UTX) Board of Directors today declared a second quarter dividend of 66 cents per outstanding share of common stock, which represents a 3.1 percent increase over the prior quarter's dividend amount. The dividend will be payable June 10 to shareowners of record at the close of business May 20.
"Increasing the dividend reflects our ongoing focus on delivering value to our shareowners," said UTC President and Chief Executive Officer Gregory Hayes. "Today's announcement extends our long track record of growing dividends and the continued execution of our previously announced plan to return $22 billion of capital, including $6 billion in dividends, to shareowners from 2015 through 2017."
UTC has paid cash dividends on its common stock every year since 1936.
United Technologies, based in Farmington, Connecticut, provides high technology products and services to the building and aerospace industries. For more information about the company, visit our website at www.utc.com or follow us on Twitter: @UTC.
This release, including the linked chart, includes "forward-looking statements" concerning expected earnings, cash flow, dividends and share repurchases. These matters are subject to risks and uncertainties. Important factors that could cause actual results, dividends and share repurchases 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 foreign currency exchange rates, commodity prices, interest 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 impact of divestitures; 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, investigations and other factors beyond our control. The level and timing of discretionary share repurchases (those outside the company's current accelerated share repurchase program) depend upon market conditions, the level of other investing activities and uses of cash, and discretionary share repurchases may be suspended at any time. The forward-looking statements speak only as of the date of this press release and we undertake no obligation to update or revise any forward-looking statements as of a later date. 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.
Contact: Joshua Silverman
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/utc-board-of-directors-increases-dividend-300256976.html
SOURCE United Technologies Corp.