Raytheon Technologies Board of Directors Increases Quarterly Cash Dividend

Rhea-AI Summary

Raytheon Technologies Corporation (RTX) has declared a quarterly cash dividend of 59 cents per share, marking a 7.3% increase over the previous quarter. This dividend will be paid on June 15, 2023, to shareholders recorded by May 19, 2023. CEO Greg Hayes stated that the dividend increase reflects the company's commitment to shareholder value, highlighting strong demand in both commercial and defense sectors. Raytheon Technologies aims to return at least $20 billion to shareholders within four years following its merger. The company has a long-standing tradition of paying dividends, consistently since 1936, with 2022 sales of $67 billion.

Positive

• Quarterly dividend increased by 7.3% to 59 cents per share.
• Commitment to return at least $20 billion to shareholders in the next four years.
• Strong demand in commercial and defense sectors contributing to earnings growth.

Negative

• Future dividends are subject to risks and uncertainties, with no guarantee of past performance.
• Risks inherent in the business may impact future dividend payments.

News Market Reaction – RTX

-1.34%

-1.34% Session move

In the trading session that priced this news, RTX declined 1.34%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ARLINGTON, Va., April 24, 2023 /PRNewswire/ -- Raytheon Technologies Corporation (NYSE: RTX) announced today that its Board of Directors declared a dividend of 59 cents per outstanding share of RTX common stock, which represents an increase of 7.3 percent over the prior quarter's dividend amount. The dividend will be payable on June 15, 2023 to shareowners of record at the close of business on May 19, 2023.

"The increase in our dividend reflects our long history of delivering incremental value to our shareholders," said Raytheon Technologies Chairman and CEO Greg Hayes. "Demand across both our commercial and defense businesses remains strong and our earnings continue to grow. We maintain a disciplined approach to capital allocation and are on track to return at least $20 billion of capital to shareholders in the four years following the merger."

Raytheon Technologies has paid cash dividends on its common stock every year since 1936.

About Raytheon Technologies
Raytheon Technologies is the world's largest aerospace and defense company. Our global team of 180,000 employees pushes the limits of known science and redefines how we connect and protect our world. We are advancing aviation, building smarter defense systems and creating innovations to take us deeper into space. The company, with 2022 sales of $67 billion, is headquartered in Arlington, Virginia.

Cautionary Statement Regarding Forward-Looking Statements
This release includes statements related to 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 timing, payment and amount of future dividends, if any, could vary significantly from past dividends due to a number of risks and uncertainties. These factors include those described under the caption "Risk Factors" in our reports on Forms 10-K, 10-Q and 8-K filed with the SEC from time to time.

Media Contact
C: 202.384.2474

Investor Contact
C: 781.522.5123

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SOURCE Raytheon Technologies

FAQ

What is the current dividend rate for RTX?

Raytheon Technologies has declared a quarterly dividend of 59 cents per share.

When is the RTX dividend payment date?

The dividend will be payable on June 15, 2023.

What was the percentage increase in the RTX dividend?

The dividend was increased by 7.3% compared to the prior quarter.

What is the historical context of RTX dividends?

Raytheon Technologies has consistently paid cash dividends on its common stock every year since 1936.

How much capital does RTX plan to return to shareholders?

Raytheon Technologies plans to return at least $20 billion to shareholders in the four years following the merger.