TE Connectivity to raise quarterly dividend to 59 cents a share vs. 56 cents

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Industrial technology company TE Connectivity Ltd. TEL, -0.33% said Friday its board has approved an increase in its quarterly dividend to 59 cents a share from 56 cents. The Schaffhausen, Switzerland-based company said the new dividend will be payable for the four fiscal quarters starting in April 23 and will boost the annual dividend to $2.36 a share from $2.24, subject to approval from shareholders at its annual meeting on March 15. TE Connectivity stock was up 2.7% premarket, but is down 24% in the year to date, while the S&P 500 SPX, -0.73% has fallen 17%.

This article was originally published by Marketwatch.com. Read the original article here.

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