Shareholders of United Technologies (NYSE:UTX) will soon find a few more coins in their pockets. The company has declared a dividend of $0.589 per share for its Q4, to be paid on December 10 to shareholders of record as of November 15. That amount is $0.054, or 10%, higher than each of its five preceding disbursements of $0.535, the most recent of which was paid last month. Prior to that, United Technologies handed out $0.48 per share.
In the press release announcing the pleasant news, CEO Louis Chenevert says that the increase "reflects confidence in our portfolio, our strategy and our leadership team to grow earnings over the long term."
The company added that it has paid common stock dividends every year since 1936.
The just-declared distribution annualizes to $2.36 per share. That yields 2.3% at United Technologies' most recent closing stock price of $102.84.