MORRIS TOWNSHIP, N.J.—Honeywell International Inc., which makes products for aerospace, autos and homes, said Friday it will raise its annual dividend rate by 12 percent beginning with the fourth quarter.
The company said the increase of 16 cents will raise the annual dividend to $1.49 per share from $1.33 per share. The change will start with the fourth-quarter dividend, payable Dec. 9 to shareholders as of Nov. 18.
The company said the strength of business so far this year led it to move up the increase and make it 12 percent instead of the historical 10 percent.
Honeywell shares fell 7 cents to $53.94 in morning trading.