Johnson Controls has approved a 23% increase in the company’s quarterly cash dividend, to US$0.16 per common share from US$0.13 per common share.
A quarterly dividend at the new rate is payable January 4, 2011 to shareholders of record at the close of business on December 10, 2010.
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The new indicated annual dividend is $0.64 per share, up from $0.52 per share.
“Johnson Controls is committed to providing shareholder value, and the increase of our dividend is reflective of our financial performance and our confidence in delivering record earnings in 2011 and the future growth of the company,” said Chairman and Chief Executive Officer Stephen A. Roell.
“We are proud of our legacy of paying consecutive dividends since 1887 and being able to reward our shareholders with a significantly higher dividend.”
Johnson Controls has said that it expects to continue to increase its payout ratio to shareholders over the next several years.
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