Honeywell raises dividend by 3.3%, starting with its fourth-quarter payout

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Honeywell International Inc. said Friday it was raising its annual dividend by 3.3%, to $3.72 a share from $3.60. The new dividend rate will be effective in the fourth quarter, when it a quarterly dividend of 93 cents will be payable on Dec. 4 to shareholders of record on Dec. 13. Based on the software industrial company’s current stock price — it is up 0.4% at $159.42 in midday trading — the new annual dividend rate implies a dividend yield of 2.33%, which compares with the implied yield for the S&P 500 of 1.73%. “Honeywell remains focused on providing value to our shareowners despite the current challenging economic environment, and today we announced an increase to our dividend for the 11th consecutive year,” said Chief Executive Darius Adamczyk. The stock has rallied 11.9% over the past three months, while the Dow Jones Industrial Average has gained 4.6%.
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