United Technologies Announces 60M Share Buyback Plan, Declares $0.535/Share Qtr. Dividend
United Technologies Corp.'s (NYSE: UTX) Board of Directors today declared a dividend of 53.5 cents per common share payable March 10 to shareowners of record at the close of business Feb. 15. The ex-dividend date is Feb. 13. UTC has paid cash dividends on its common stock every year since 1936.
The Board also authorized a share repurchase program for up to 60 million shares of the company's common stock worth approximately $5.4 billion at current prices. The new authorization replaces a previous program, approved in March 2010, which was nearing completion. The company continues to expect 2013 repurchases to total approximately $1.0 billion.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.