HARTFORD, Conn., Oct. 9, 2013 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) Board of Directors today declared a 10 percent increase in its fourth quarter dividend to 58.9 cents per common share. The dividend will be payable Dec. 10 to shareowners of record at the close of business Nov. 15. The ex-dividend date will be Nov. 13.
"Strong cash generation is a hallmark of UTC, and we are pleased to extend our long track record of dividend increases," said UTC Chairman & Chief Executive Officer Louis Chenevert. "This increase reflects confidence in our portfolio, our strategy and our leadership team to grow earnings over the long term."
UTC has paid cash dividends on its common stock every year since 1936.United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries. For more information about the company, visit our website at www.utc.com or follow us on Twitter: @UTC. This release, including the linked chart, includes "forward-looking statements" concerning expected earnings, cash flow and dividends. These matters are subject to risks and uncertainties. Important factors that could cause actual results and dividends to differ materially from those anticipated or implied in forward looking statements include deterioration in global economic conditions; declines in end market demand in residential and building construction; declines in demand in either the commercial or defense segments of the aerospace industry; fluctuation in commodity prices, interest rates, foreign currency exchange rates, and the impact of weather conditions; and company-specific factors including the availability and impact of acquisitions; the rate and ability to effectively integrate these acquired businesses; the ability to achieve cost reductions at planned levels; challenges in the design, development, production and support of advanced technologies and new products and services; delays and disruption in delivery of materials and services from suppliers; labor disputes; and the outcome of legal proceedings. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's SEC filings as submitted from time to time, including but not limited to, the information included in UTC's 10-K and 10-Q Reports under the headings "Business," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Note Concerning Factors that May Affect Future Results," as well as the information included in UTC's Current Reports on Form 8-K.