FARMINGTON, Conn., Oct. 10, 2018 /PRNewswire/ -- United Technologies Corp.'s (NYSE: UTX) Board of Directors today declared a dividend of 73.5 cents per share on the outstanding shares of UTC's common stock, which represents a 5 percent increase over the prior quarter's dividend amount. The dividend will be payable December 10, 2018, to shareowners of record at the close of business on November 16, 2018.
"The increase in our dividend reflects our ongoing commitment to remain disciplined in our capital allocation and deliver value to shareowners," said Gregory J. Hayes, Chairman and Chief Executive Officer of United Technologies.
UTC has paid cash dividends on its common stock every year since 1936.
United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. By combining a passion for science with precision engineering, the company is creating smart, sustainable solutions the world needs. For more information about the company, visit our website at www.utc.com or on Twitter @UTC.
This release includes statements related to anticipated earnings, cash flow and dividends that constitute "forward-looking statements" under the securities laws. All forward-looking statements involve risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Past dividends provide no assurance as to future dividends. The payment and amount of future dividends could vary significantly from past amounts due to a number of risks and uncertainties. Risks and uncertainties include, without limitation, the effect of economic conditions in the markets in which we operate, including financial market conditions, fluctuation in commodity prices, interest rates and foreign currency exchange rates; future levels of capital and research and development spending; levels of end market demand in construction and in the aerospace industry; levels of air travel; the financial condition of our customers and suppliers; cost reduction efforts and restructuring costs; the scope, nature or impact of acquisitions, dispositions, joint ventures and other business arrangements, including integration of acquired businesses; challenges in the development and production of new products and services; and the effect of changes in laws and regulations and political conditions in countries in which we operate and other factors beyond our control. For additional information identifying risk factors and uncertainties, see our reports on Forms 10-K, 10-Q and 8-K filed with the SEC from time to time.
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SOURCE United Technologies Corp.