Hartford industrial conglomerate United Technologies Corp. raised its dividend 12.9 percent to 48 cents a share, citing its strong growth prospects.
The dividend is payable June 10 to shareowners of record at the close of business May 20.
The parent of Pratt & Whitney Co., Hamilton Sunstrand, Sikorsky Aircraft, Otis Elevator and Carrier, among other divisions, had said weeks ago it would likely give its shareholders a raise.
“Solid execution across our business units has positioned UTC well for the future,” Chairman and Chief Executive Officer Louis Chenevert said in a statement announcing the dividend hike
