Te Conne Stock Price, News & Analysis

TE Connectivity, a leader in connectors and sensors, announced the addition of nine students to its African Heritage Scholarship Program, which aims to diversify its workforce. The program, now in its second year with a total investment of $3.5 million, supports top-performing Black and African American students through internships and scholarships. Each student will undergo a 10- to 12-week internship, and upon completion, may receive scholarships of up to $22,500 for their junior year. The initiative emphasizes TE's commitment to building an inclusive workforce while fostering innovation in the technology industry.

TE Connectivity Ltd. (NYSE: TEL) announced that its subsidiary, Tyco Electronics Group S.A., priced a $500 million offering of 4.500% senior notes due 2026. The notes will be issued at a price of 99.811% with interest payable semi-annually. The net proceeds will support general corporate purposes including potential debt repayment. This offering is backed by an effective registration statement filed on June 21, 2021, and is expected to close on February 13, 2023. Major underwriters include BofA Securities, Citigroup Global Markets, and J.P. Morgan Securities.

TE Connectivity Ltd. (NYSE: TEL) reported fiscal Q1 2023 results with net sales of $3.8 billion, a 1% increase and 8% organic growth year-over-year. The Transportation Solutions segment saw strong growth of 14%, while Industrial Solutions grew by 7%. However, the Communications Solutions segment experienced an 11% decline. GAAP diluted EPS was $1.25, with adjusted EPS of $1.53, exceeding guidance despite a $0.25 impact from currency and tax challenges. The company projects Q2 2023 sales of around $3.9 billion and adjusted EPS of $1.57.

TE Connectivity has launched its inaugural Industrial Technology Index, revealing significant differences in how executives and engineers define and prioritize innovation. The survey highlights that 57% of executives see innovation as a total transformation, while 55% of engineers consider it an iteration. A striking 83% of engineers believe their company needs to invest more in innovation, compared to 53% of executives. The survey underscores the importance of sustainable practices, with one in five engineers reporting a lack of clear strategy in their organizations.

TE Connectivity Ltd. (NYSE: TEL) will hold its 2023 annual general meeting (AGM) on March 15 at 2 p.m. CET in Zürich, Switzerland. Shareholders with voting rights as of February 23 will be entitled to vote. A Notice of Internet Availability of Proxy Materials will be sent to registered shareholders on January 5, providing details on accessing proxy materials online. Beneficial holders must maintain their shares until the record date to be eligible to vote. Shareholders are encouraged to review the definitive proxy statement for critical information.

TE Connectivity Ltd. (NYSE: TEL) is set to release its first quarter financial results for fiscal 2023 on January 25, 2023, before market trading begins. A conference call for investors will occur at 8:30 a.m. ET, accessible via the company's website and by telephone. TE Connectivity is a leader in industrial technology, offering extensive connectivity and sensor solutions across various sectors, including transportation and medical technology, and operates with over 85,000 employees globally.

TE Connectivity Ltd. (NYSE: TEL) announced an increase in its quarterly dividend from $0.56 to $0.59 per share, effective from April 2023. This change raises the annual dividend from $2.24 to $2.36 per share. The proposal will be voted on at the Annual General Meeting on March 15, 2023. This decision reflects the company's ongoing commitment to return value to its shareholders.