HONA Stock: Longtime Honeywell Holders Now Get 53% Less in Dividends From Three Companies

By Stock Titan Editorial Team Published October 28, 2026, 04:50 PM EDT

Does HONA stock pay a dividend now?

The amount and the dates are in the company’s dividend release and again in its filing with the SEC the same day. The payment goes to shareholders of record on November 13, and shares bought on or after the ex-dividend date set by the exchange do not get it. Our guide to record and payment dates explains how those dates work.

At the October 28 close of $177.03 (StockTitan real-time Nasdaq data), $1.60 a year is a 0.9% dividend yield, the yearly dividend as a share of the price.

Paid on the 317.0 million shares outstanding at September 26, it costs about $507 million a year, by our calculation.

Before the split, the company’s information statement said it expected dividends “in line with our peers.” Chief executive Jim Currier said on Wednesday that “paying a competitive, growing dividend is a key component of our capital allocation strategy.” In plain terms, the company calls the dividend a priority and says it should grow, but gives no target for it. Neither document says how the board chose $0.40.

The dividend shares that cash with heavy spending at home. On the same day the company announced a $500 million, 300,000 square foot factory in Tempe, Arizona, due to open in late 2028. The results release says it adds capacity, lean manufacturing, automation and supply chain resilience for current Control Systems production, recent wins and next generation platforms.

What old Honeywell shareholders get after the spin off

Honeywell split itself up twice in eight months. In October 2025 it handed out one share of the chemicals maker Solstice Advanced Materials (SOLS) for every four Honeywell shares. On June 29, 2026 it handed out one Honeywell Aerospace share for every two. The same day, the company that stayed behind, now called Honeywell Technologies (HON), merged every two of its shares into one.

Show the data

Category	Honeywell (HON)	Honeywell Aerospace (HONA)	Solstice (SOLS)
June 2026 payments	$119.00	$0.00	$1.88
Latest declared, Sept to Dec	$35.00	$20.00	$1.88

That is 53% less in dividends each quarter. Before Wednesday’s declaration the same holding was due $36.88 by our calculation, so HONA’s first dividend brings part of the money back. Almost all of the drop comes from Honeywell Technologies, which now pays $0.70 on a share that stands for two old ones. Its quarterly report restates the old dividend as $2.38 per current share, so its own payout per share fell by about 71%, by our calculation.

Someone who bought Honeywell after October 2025 holds no Solstice, and the result is much the same. Two old shares paid $2.38 a quarter in June, and the HON and HONA shares they became now pay $1.10, by our count. Both December payments land on the same day.

What the three holdings are worth depends on three share prices, which this sum leaves out. Honeywell Technologies has also spent $1.0 billion buying back its own stock this year, according to its quarterly report. Neither company has said why it set its dividend where it did. We looked at Honeywell Technologies’ side of the split in our article on its third quarter.

Honeywell Aerospace earnings for the third quarter

Sales were $4.64 billion in the quarter to September 26, up 2% from a year earlier, according to the results release. Adjusted EBIT rose 1% to $1.16 billion. It is the company’s profit before interest and taxes, leaving out costs such as stock pay, deal costs and the Honeywell name fee.

Net income grew faster, 13% to $737 million. A year earlier the quarter carried $258 million of environmental costs and $143 million of deal costs.

Together those two costs fell from $401 million to $37 million, by our sum, more than making up for $187 million of new interest.

Adjusted earnings per share, $2.21, came in below the reported $2.29 mainly because the company removes pension income.

The release says that profit includes “an approximately $50 million net benefit” from refunds of tariffs collected under the International Emergency Economic Powers Act. Without it, adjusted EBIT would have been about 3.5% lower than a year earlier, by our estimate. This year’s figure also carries the new costs of running as a separate public company.

Show the data

Category	Change
Electronic Solutions	+11%
Engines and Power Systems	-16%
Control Systems	+2%

The three businesses moved apart. Electronic Solutions, which makes cockpit electronics and sensors, grew segment profit 11%. Engines and Power Systems saw profit fall 16%, which the release puts down to higher costs and a less profitable mix of sales. Control Systems was flat on sales. Commercial aftermarket sales, the repairs and spare parts sold to airlines and jet owners, grew 2%, which the release says was “limited by mechanical component availability,” meaning parts shortages capped those sales.

Orders kept growing. Backlog, the orders the company has taken but not yet delivered, reached $19.3 billion, up 12% from a year earlier. Orders over the past year grew 9%, led by defense and space. Currier pointed to encouraging signs from suppliers that currently limit output and said that, combined with qualifying additional material sources, this “positions us for higher sales and output growth in 2027 and beyond.” Our GE Aerospace earnings article covers the jet engine maker’s results from the same week.

The shares closed up 5.4% at $177.03 on Wednesday, before the results came out. In thin after-hours trading they jumped minutes after the release and had given almost all of it back by 4:29 p.m. ET (StockTitan real-time Nasdaq data).

Honeywell Aerospace 2026 guidance

Adjusted earnings per share for 2026 are now expected at $7.85 to $8.00, up from $7.60 to $7.90. Sales growth excluding currency and acquisitions stays at 4% to 5%, the range the company cut to in August, when it said supply problems were holding back output.

The adjusted EBIT range narrowed to $4.375 billion to $4.425 billion, so its middle stayed at $4.4 billion. The release does not say what lifts the per-share forecast while the adjusted EBIT midpoint stays unchanged.

Free cash flow for the second half is now expected at $1.2 billion to $1.4 billion, and the release lists the earlier range as $1.0 billion to $1.4 billion. The August results release had put the top of that range at $1.5 billion.

The third quarter already brought in $500 million. That leaves $700 million to $900 million for the fourth quarter, by our calculation.

Honeywell Aerospace debt and what it pays each year

Before the split, Honeywell Aerospace sold $10 billion of new bonds and paid $9.1 billion of the money to Honeywell. It also handed Honeywell another $6 billion of its bonds directly. Honeywell’s own quarterly report records $15.8 billion of funding from the aerospace spin-off.

The June information statement puts the average interest rate on those bonds at 4.95%. At that rate the interest comes to about $792 million a year, our estimate from those terms, more than the $507 million a year the dividend costs.

The quarter’s reported net interest expense was $187 million. That figure is net of interest the company earns on its cash. Interest is already paid before free cash flow is counted.

Free cash flow is the cash left after running the business and paying for equipment. It was $500 million in the third quarter alone, so one dividend payment equals about a quarter of it. The yearly dividend is also about 20% of the $7.85 to $8.00 a share the company expects to earn in 2026. That forecast uses its adjusted measure, which leaves out items such as pension income and deal costs.

Show the data

Category	Value
Interest on the $16 billion of notes	$792M
Dividends at $0.40 a quarter	$507M
Honeywell name license	$225M

There is also a fee for the name. Honeywell Aerospace pays Honeywell $18.75 million a month to use the Honeywell brand, $225 million a year by our count. Its adjusted EBIT leaves that cost out.

On the other owner questions, the company had 317.0 million shares and $15.85 billion of long-term debt at September 26. Its board approved buying back up to $3.5 billion of stock in July, and the release shows no separate line for buyback spending. The information statement says the bank credit lines do not restrict dividends, and also that the separation debt and the payments owed to Honeywell “may limit our ability to pay dividends.”

For now, then, the company’s lenders collect more of its cash each year than its shareholders do. In our reading that follows from how the split was paid for, with debt raised by the new company and sent to the old one.

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The information provided in this article is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or an endorsement of any particular investment strategy. Past performance does not guarantee future results. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions.

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