United Technologies Corp. [UTX] yesterday said will increase is dividend by 10 percent, beginning in the fourth quarter of 2013.
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UTC’s new quarterly dividend will be 58.9 cents per share.
“Strong cash generation is a hallmark of UTC, and we are pleased to extend our long track record of dividend increases,” Louis Chenevert, UTC’s chairman and CEO, said in a statement. “This increase reflects confidence in our portfolio, our strategy and our leadership team to grow earnings over the long term.”