Honeywell announced that its Board of Directors has approved a 10% increase, or $0.12 per common share, in the company’s regular annual cash dividend rate to $1.33 from $1.21 per common share, effective with the first quarter 2011 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.
“Raising the dividend rate by 10% reflects Honeywell’s strong cash generation and the continued improvement in our underlying business performance,” said Honeywell Chairman and CEO Dave Cote. “We’re committed to delivering shareowner value and confident that our great positions in good industries will help drive Honeywell’s growth and performance over the long-term.”
