Trane Technologies Names CEO Dave Regnery As Chair Of Board; Boosts Dividend By 14%

Trane Technologies PLC (NYSE:TT) intends to raise its dividend by 14% from 1Q22. The quarterly dividend will increase from $0.59 to $0.67 per share, increasing annually from $2.36 to $2.68 per share.
"When combined with our dividend increase of 11% in the first quarter of 2021, the annual dividend is expected to be up 26% since the separation of our industrial businesses and the launch of Trane Technologies in March of 2020," said CEO Dave Regnery.
Separately, the company announced the appointment of CEO Dave Regnery as chair of the Board, effective January 1, 2022.
Regnery succeeds Mike Lamach, who has served as executive chair through the CEO transition and will retire from the company on December 31, 2021.
Price Action: TT shares closed higher by 3.09% at $190.56 on Thursday.