PALM BEACH GARDENS, Fla. - Carrier Global Corporation (NYSE: NYSE:CARR), a provider of climate and energy solutions, has announced an increase in its quarterly dividend. The company's Board of Directors declared a dividend of $0.225 per outstanding share of common stock, marking an 18% increase from previous dividends. According to InvestingPro data, this continues Carrier's track record of raising dividends for four consecutive years, with the current yield at 1.03%.
The new dividend is set to be distributed on February 7, 2025, to shareholders on record as of December 20, 2024. This move reflects Carrier's strategy of disciplined capital allocation and its focus on delivering value to its customers, employees, and shareholders, as emphasized by Chairman & CEO David Gitlin.
Carrier has a history of innovation in the climate and energy sectors, aiming to create sustainable solutions. The company's forward-looking statements, however, come with the usual caution that they are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from expectations.
This dividend announcement is based on a press release statement from Carrier Global Corporation and does not necessarily represent the views of the Wall Street Journal. The information provided is intended to offer a factual report on Carrier's dividend increase without endorsement or speculation on the company's financial position or market performance.
In other recent news, Carrier Global Corporation has undergone significant executive changes with Senior Vice President and Chief Legal Officer, Kevin O'Connor, stepping down. Francesca Campbell is set to take over the role. In recent financial maneuvers, Carrier issued €750 million in 3.625% euro-denominated notes due in 2037, using the proceeds and existing cash to redeem its 4.375% Notes due in 2025.
The company's Q3 financials showed a 21% increase in sales to $6 billion, with organic sales growing by 4%. The HVAC segment saw a 26% increase in sales, largely due to the acquisition of Viessmann Climate Solutions. Adjusted EPS from continuing operations was $0.77, marking a 3% increase year-over-year.
Analysts at Baird and Oppenheimer maintained an Outperform rating on Carrier Global, while Mizuho (NYSE:MFG) held the company at Neutral. The company repurchased $400 million in shares in Q3 and plans to reach $1 billion in buybacks by year's end. These recent developments highlight Carrier's strategic financial moves and robust performance.
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