The board of directors at Raytheon (NYSE: RTN) approved an increase to boost the firm’s first annual dividend payout rate by 15 percent from $1.50 to $1.72 per share.
According to the firm, “the board also authorized payment of a quarterly cash dividend of $0.43 per outstanding share of common stock to be paid on April 28, 2011 to shareholders of record as of the close of business on April 6, 2011. Payment of quarterly dividends is subject to board authorization.”
“This marks the seventh consecutive year that we have raised our dividend, ” CEO William H. Swanson said. “The dividend increase reflects our company’s strong financial position, continued confidence in the future and ongoing commitment to our shareholders.”