Trane Technologies (TT) to Increase Annual Dividend by 14%

December 3, 2021 6:46 AM EST

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Trane Technologies (NYSE: TT) a global climate innovator, today announced it intends to increase its dividend by 14%, from $0.59 to $0.67 per share quarterly and from $2.36 to $2.68 per share annualized, in the first quarter of 2022, subject to Board approval at such time.

“Our sustainability-focused strategy and strong execution enables us to maximize business reinvestment, while at the same time return substantial cash to shareholders,” said Dave Regnery, chief executive officer. “When combined with our dividend increase of 11% in the first quarter of 2021, the annual dividend is expected to be up 26% since the separation of our industrial businesses and the launch of Trane Technologies in March of 2020. This announcement reinforces our commitment to paying a competitive dividend that grows at or above the rate of earnings growth over time, and reflects continued confidence in our ability to generate strong cash flow.”

Trane Technologies has paid quarterly cash dividends on its common shares since 1919 and annual dividends since 1910.

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