Raytheon Increases Quarterly Dividend
- March 26, 2009
- Dividend News
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Defense contractor Raytheon (RTN: 48.97 +0.87%) announced yesterday that its board of directors has increased the company’s quarterly dividend by 11% to $.31 per share.
The dividend increase lifts the stock’s dividend yield to 3.3%.
“The increase in our dividend reflects our Company’s strong financial position, our continued confidence in our future and our ongoing commitment to our shareholders,” said William H. Swanson, Raytheon’s Chairman and CEO.
Wall Street responded positively to the news, sending the stock up 7.5% to $40.03 in afternoon trading. Since the beginning of the year, the stock had been down 27%.
The dividend will be payable on May 1, 2009 to shareholders of record as of April 7, 2009.
