Published September 7, 2016 4:08pm EDT | Updated September 7, 2016 5:04pm EDT

Honeywell To Pay Spinoff Dividend For Its AdvanSix Business On Oct. 1

Honeywell International Inc. said Wednesday it will pay a spinoff dividend of AdvanSix common shares on October 1. Honeywell shareholders of record as of Sept. 16 will receive one AdvanSix share for every 25 shares of Honeywell stock owned, on a pro-rated basis. The company is expecting AdvanSix stock to start trading as a standalone company on the New York Stock Exchange on Sept. 14. Honeywell shares closed down 1.3%, while the S&P 500 ended flat.