ARLINGTON, Va., April 24, 2023 /PRNewswire/ -- Raytheon Technologies Corporation (NYSE:RTX) announced today that its Board of Directors declared a dividend of 59 cents per outstanding share of RTX common stock, which represents an increase of 7.3 percent over the prior quarter's dividend amount. The dividend will be payable on June 15, 2023 to shareowners of record at the close of business on May 19, 2023.

"The increase in our dividend reflects our long history of delivering incremental value to our shareholders," said Raytheon Technologies Chairman and CEO Greg Hayes. "Demand across both our commercial and defense businesses remains strong and our earnings continue to grow. We maintain a disciplined approach to capital allocation and are on track to return at least $20 billion of capital to shareholders in the four years following the merger."

Raytheon Technologies has paid cash dividends on its common stock every year since 1936.

About Raytheon Technologies

Raytheon Technologies is the world's largest aerospace and defense company. Our global team of 180,000 employees pushes the limits of known science and redefines how we connect and protect our world. We are advancing aviation, building smarter defense systems and creating innovations to take us deeper into space. The company, with 2022 sales of $67 billion, is headquartered in Arlington, Virginia.

Cautionary Statement Regarding Forward-Looking Statements

This release includes statements related to dividends that constitute "forward-looking statements" under the securities laws. All forward-looking statements involve risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Past dividends provide no assurance as to future dividends. The timing, payment and amount of future dividends, if any, could vary significantly from past dividends due to a number of risks and uncertainties. These factors include those described under the caption "Risk Factors" in our reports on Forms 10-K, 10-Q and 8-K filed with the SEC from time to time.

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SOURCE Raytheon Technologies

Raytheon Technologies Board of Directors Increases Quarterly Cash Dividend