Johnson Controls (JCI -0.84%) is hewing to a more than 100-year-old company tradition by declaring a new dividend. The firm will distribute $0.19 per share of its common stock on July 2 to shareholders of record as of June 7. This amount matches each of the firm's previous two disbursements, the most recent of which was paid in early April. Prior to that, Johnson Controls handed out $0.18 per share.
In the company's press release announcing the move, the company pointed out that it has paid dividends consecutively since 1887.
The current payout annualizes to $0.76 per share. That yields 2% at Johnson Controls' most recent closing stock price of $37.38.
