Honeywell raises dividend, to boost yield above 2.4%

Shares of Honeywell International Inc.
HON,
-1.82%
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
SPX,
-1.51%
of 1.81%, and would make the stock the 18th-highest yielding of the Dow Jones Industrial Average’s
DJIA,
-1.71%
30 components. Honeywell’s stock has lost 18.3% year to date, while the Dow has dropped 19.6%.