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UPDATE: United Tech (UTX) Quarterly Dividend Gets 5.5c Boost; Yield Improves to 2.9%

June 13, 2012 4:40 PM EDT Send to a Friend
(Updated - June 13, 2012 4:53 PM EDT)

United Technologies Corp. (NYSE: UTX) declared a quarterly dividend of $0.535 per share, or $2.14 annualized. This is an 11.5% increase from the prior dividend of $0.48.

The dividend will be payable on September 10, 2012, to stockholders of record on August 17, 2012, with an ex-dividend date of August 15, 2012.

Annual yield on the dividend is 2.9 percent.

"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."

The last time United Tech boosted its payout was for its May 2011 dividend, which was a 5.5 cent increase over the prior dividend. Both today's raise and that raise are the some, but there is one key difference: yield.

Annual yield on the May 2011 dividend was 2.2 percent, up from 2.0 percent with the prior dividend. However, shares have dropped about $13 since then, boosting the yield on today's announced payout increase even more.

Shares ended the session down 1.09 percent Wednesday, but are positive in late trading.

For a dividend history and other dividend-related data on United Technologies Corp. (UTX) click here.

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