Otis Declares Quarterly Dividend of $0.29 per Share
The Board of Otis Worldwide Corporation (NYSE: OTIS) has declared a quarterly dividend of $0.29 per share.
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Rhea-AI Summary
The Board of Otis Worldwide Corporation (NYSE: OTIS) has declared a quarterly dividend of $0.29 per share. This dividend will be payable on September 10, 2022, to shareholders on record as of August 19, 2022. Otis, the global leader in elevator and escalator manufacturing and services, operates with a strong workforce of 70,000 across over 200 countries. However, future dividends may be affected by various risks including economic conditions, market demand, and geopolitical factors.
Positive
- Declared quarterly dividend of $0.29 per share, enhancing income for shareholders.
- Strong operational foundation with 70,000 employees and 2.1 million customer units worldwide.
Negative
- Future dividends may vary significantly due to economic uncertainties and risks, including geopolitical tensions.
Details
News Market Reaction – OTIS
The recorded move for OTIS in the trading session of this news was +1.72%.
Data tracked by StockTitan Argus. Session date unavailable.
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FARMINGTON, Conn., July 28, 2022 /PRNewswire/ -- The Otis Worldwide Corporation (NYSE: OTIS) Board of Directors today declared a quarterly dividend of
About Otis
Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2 billion people a day and maintain more than 2.1 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 70,000 people strong, include 41,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories worldwide. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram, Facebook and Twitter @OtisElevatorCo.
Cautionary Statement
This release includes statements related to anticipated earnings, cash flow and dividends that constitute "forward-looking statements" under the securities laws. All forward-looking statements involve risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Past dividends provide no assurance as to future dividends. The payment and amount of future dividends could vary significantly from past amounts due to a number of risks and uncertainties. Risks and uncertainties include: (1) the effect of economic conditions in the industries and markets in which Otis and its businesses operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction, pandemic health issues (including COVID-19 and variants thereof and the ongoing economic recovery therefrom and their effects on, among other things, global supply, demand and distribution), natural disasters and the financial condition of Otis' customers and suppliers; (2) risks associated with indebtedness; (3) challenges in the development and production of new products and services; and (4) the effect of changes in laws and regulations and political conditions in countries in which we operate, including the effect of the ongoing conflict between Russia and Ukraine, and other factors beyond our control. The above list of factors is not exhaustive or necessarily in order of importance. For additional information on identifying factors that may cause actual results to vary from those stated in forward-looking statements, see the reports of Otis on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Otis assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Media Contact | Investor Relations Contact |
Katy Padgett | Michael Rednor |
+1-860-674-3047 | +1-860-676-6011 |
View original content:https://www.prnewswire.com/news-releases/otis-declares-quarterly-dividend-of-0-29-per-share-301595719.html
SOURCE Otis Worldwide Corporation
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