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Eaton Raises Dividend

Eaton (NYSE: ETN  ) has added several cents to its latest quarterly dividend. The company will hand out $0.42 per share of its common stock on March 22 to shareholders of record as of March 11. That amount represents an 11% raise over the previous disbursement, which the company had paid in each quarter of 2012. Before that, the dividend was $0.34 per share.

Eaton is a habitual dividend payer. Since 2010, it has adjusted its distribution at least once per year.

The company said it estimates that the bulk of the disbursement will be treated as a return of capital for U.S. tax purposes.

The new dividend annualizes to $1.68 per share, yielding 2.7% at Eaton's current stock price of $61.69. 

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