United Technologies increases dividend by 8.5 percent to 64 cents

StocksAssociated Press

United Technologies says it is increasing its quarterly dividend by 8.5 percent.

The Hartford, Connecticut-based company on Monday announced the new dividend of 64 cents per share, up from its most recent payment of 59 cents per share. The dividend is payable March 10 to shareowners of record as of Feb. 13.

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The aerospace technology company says the increase reflects the momentum in its business and expectation of solid cash flow ahead.

United Technologies Corp. shares rose $1.80 to close at $116.58 and added another 42 cents to $117 in extended trading.