Otis Declares Quarterly Dividend of $0.39 per Share

Rhea-AI Summary

Otis Worldwide (NYSE: OTIS), the world's leading elevator and escalator company, has declared a quarterly dividend of $0.39 per share of common stock. The dividend will be payable on September 6, 2024, to shareholders of record at the close of business on August 16, 2024.

Otis moves 2.3 billion people daily and maintains approximately 2.3 million customer units worldwide, boasting the industry's largest Service portfolio. With 71,000 employees, including 42,000 field professionals, Otis operates in over 200 countries and territories, serving diverse customer needs.

Positive

• Consistent dividend payment of $0.39 per share
• Industry-leading position with 2.3 million customer units worldwide
• Large global presence in over 200 countries and territories

Negative

• None.

News Market Reaction

+0.48%

1 alert

+0.48% News Effect

On the day this news was published, OTIS gained 0.48%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

FARMINGTON, Conn., July 25, 2024 /PRNewswire/ -- The Otis Worldwide Corporation (NYSE: OTIS) Board of Directors today declared a quarterly dividend of $0.39 per share of Otis' common stock. The dividend will be payable on September 6, 2024, to shareholders of record at the close of business on August 16, 2024.

About Otis

Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 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, and Facebook @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, future availability of credit and factors that may affect such availability or costs (including tighter credit conditions), levels of end market demand in construction, pandemic health issues, 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, political conditions and geopolitical conflicts in countries in which we operate 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
kathleen.padgett@otis.com	investorrelations@otis.com

 

View original content:https://www.prnewswire.com/news-releases/otis-declares-quarterly-dividend-of-0-39-per-share-302207045.html

SOURCE Otis Worldwide Corporation

FAQ

What is the amount of Otis' quarterly dividend for 2024?

Otis Worldwide (NYSE: OTIS) has declared a quarterly dividend of $0.39 per share of common stock for 2024.

When is the payment date for Otis' latest dividend?

The dividend will be payable on September 6, 2024, to shareholders of record at the close of business on August 16, 2024.

How many customer units does Otis maintain globally?

Otis maintains approximately 2.3 million customer units worldwide, which is the industry's largest Service portfolio.

How many people does Otis move daily with its elevators and escalators?

Otis moves 2.3 billion people a day with its elevator and escalator services.