Honeywell’s Board of Directors approved a 10% increase in the company’s regular annual cash dividend rate to $1.21 from $1.10 per common share, effective with the first quarter 2009 dividend payment. The actual declaration of any future dividends and the establishment of the record dates related thereto remains subject to further action by Honeywell’s Board.
“The decision to raise the dividend rate by 10% for the fifth consecutive year reflects our confidence in Honeywell’s ability to continue to be a strong cash generator,” said Honeywell Chairman and CEO Dave Cote. “This action displays our commitment to maximize shareowner value and our confidence in the future performance of our business even in this tougher operating environment.”
