The Board of Directors of diversified industrial manufacturer Eaton (NYSE:ETN) today declared an 11 percent increase in the quarterly cash dividend from $0.38 per common share to $0.42 per common share. The dividend is payable March 22, 2013 to shareholders of record at the close of business on March 11, 2013.
Eaton estimates that the majority of the dividend will be treated as a return of capital to U.S. shareholders. Additional information about the tax treatment of the dividend is available at the investor relations page of the Eaton website, www.Eaton.com. Eaton is required to file an IRS form indicating the estimated percentage of the dividend to be treated as a return of capital to U.S. shareholders after each quarterly cash dividend is paid. When filed, the IRS form will also be available at the investor relations page of the Eaton website.
Eaton has paid dividends on its common shares every year since 1923.
Eaton is a diversified power management company providing energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power. With 2012 sales of $16.3 billion, Eaton is a global technology leader in electrical products, systems and services for power quality, distribution and control, power transmission, lighting and wiring products; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton acquired Cooper Industries plc in 2012. Eaton has approximately 103,000 employees and sells products to customers in more than 175 countries. For more information, visit www.eaton.com.