Shares of Honeywell International Inc. edged up 0.1% in morning trading Friday, after the aerospace, control technologies for building and performance materials company raised its dividend by 5.1%. The new quarterly dividend of $1.03 a share, up from 98 cents, will be payable Dec. 2 to shareholders of record on Nov. 11. At current stock prices, the new annual dividend rate of $4.12 a share implies a dividend yield of 2.42%, which compares with implied yield for the S&P 500 of 1.81%, and would make the stock the 18th-highest yielding of the Dow Jones Industrial Average’s 30 components. Honeywell’s stock has lost 18.3% year to date, while the Dow has dropped 19.6%.
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