DUBLIN - Eaton (NYSE:ETN), a global power management company, announced an increase in its quarterly dividend to $0.94 per ordinary share, marking a 9% rise from its previous dividend. The dividend is slated for distribution on March 29, 2024, to shareholders who are on record as of the close of business on March 11, 2024.
The company, which operates in various sectors including data centers, utilities, and aerospace, emphasizes its commitment to sustainable operations and the advancement of renewable energy sources. Eaton aims to address pressing power management challenges while supporting the global trends of electrification and digitalization.
Founded in 1911, Eaton has been a fixture on the New York Stock Exchange for over a century. The company reported revenues of $23.2 billion in 2023 and serves a diverse international customer base across more than 160 countries.
As the company prepares to distribute the increased dividend, shareholders of Eaton can anticipate the receipt of the payment by the end of March, provided they hold shares by the early March record date. Eaton's history of dividend payments highlights its position as a stalwart in the industry, with a track record that spans nearly a century.
This move continues Eaton's long-standing practice of paying annual dividends since 1923 which underscores Eaton's financial health and its ability to generate shareholder value consistently. The information provided is based on a press release statement.
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