ITT hikes dividend by 22 percent
-
- February
- 20
ITT Corp., a White Plains-based industrial conglomerate and defense contractor, is hiking its quarterly dividend by 22 percent to 21.25 cents per share. The move comes after ITT reported a 14.6 percent increase in fourth-quarter profit.
ITT is bucking the trend of major companies that have cut their dividends in response to the global financial and economic crisis. This year, Standard & Poor’s forecast calls for a 13.3 percent plunge in dividends payouts by S&P 500 companies—- the worst annual performance since 1942.
This entry was posted
on Friday, February 20th, 2009 at 3:28 pm by Jay Loomis.
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Category: Dividend changes
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