Raytheon [RTN] on Wednesday said its board had voted to increase the company’s annual dividend by nearly 9 percent, marking the 14th consecutive annual increase in the payment to shareholders.
The company’s annual dividend is currently $3.19 per share and will increase to $3.47 per share.
“With today’s announcement, we have increased our annual dividend for 14 consecutive years,” Thomas Kennedy, Raytheon’s chairman and CEO, said in a statement. “The dividend increase is a key part of our capital deployment strategy, and reflects our confidence in the company’s growth outlook and our continued focus on creating value for shareholders.”
Last March Raytheon’s board also voted to increase the annual dividend by nearly 9 percent.