Yesterday, April 26th the Board of Directors of Raytheon Technologies Corporation (RTX) announced a quarterly dividend increase of from $ 0.475 to $ 0.51 per share that’s payable June 17, 2021 to holders of record May 21, 2021. This represents a 7.37% increase over the last quarterly dividend.
"The increase in our dividend reflects our long-standing commitment to deliver consistent and growing cash returns to shareowners," said Raytheon Technologies chief executive officer Greg Hayes. "The outlook for our company is positive and we remain on track to return $18 to $20 billion to shareowners in the four years following the merger."
RTX, formerly United Technologies Corporation, has paid cash dividends on its common stock every year since 1936.
With current price $ 81.00 (yesterday's close), this raise brings their dividend yield to 2.52%.
Since I own 60 shares of RTX, this will increase my portfolio's projected annual net dividend income by $ 6.26.
This increase was in line with my expectations and I will be happy to take it.
This is the first dividend increase I've received from Raytheon Technologies since initiating a position in May 2020.
This increase raises my YOC to 3.62%.
Summary of 2021 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long RTX
Thanks for stopping by!
Solid dividend raise Hawk!
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