MORRIS TOWNSHIP, N.J., Dec. 10 /PRNewswire-FirstCall/ -- Honeywell (NYSE:HON) today announced that its Board of Directors approved a 10 percent increase in the company's regular annual cash dividend to $1.10 from $1.00 per common share, effective with the first quarter 2008 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.
"This is the fourth consecutive year that Honeywell has raised its dividend rate by 10 percent," said Honeywell Chairman and CEO Dave Cote. "We are a strong cash generator and continue to drive shareholder value through annual dividend rate increases, share repurchases and strategic acquisitions."
Honeywell International is a $34 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London and Chicago Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com.
This release contains certain statements that may be deemed "forward- looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.
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