Trane Technologies Increases Dividend by 12 Percent
07 Febbraio 2024 - 11:44AM
Business Wire
Trane Technologies plc (NYSE:TT), a global climate innovator,
announced the Board of Directors has approved a 12% increase to the
dividend, resulting in a quarterly dividend of $0.84 per ordinary
share, or $3.36 per share annualized. The dividend is payable March
29, 2024, to shareholders of record on March 1, 2024.
“Our purpose-driven strategy, relentless innovation, and proven
business operating system enable us to consistently deliver a
superior growth profile, strong margins and powerful free cash flow
to execute our balanced capital allocation strategy,” said Dave
Regnery, chair and CEO, Trane Technologies. “This focus on our
growth strategy, along with continued high levels of customer
demand, enable us to consistently deliver strong financial
performance and differentiated value to shareholders while
continuing to reinvest in our business.”
In 2023, Trane Technologies delivered free cash flow of $2.2
billion, or 103% of adjusted net earnings and increased the
dividend by 12%. Today’s announcement further increases the
dividend by an additional 12% and reflects the company’s continued
confidence in its ability to generate strong free cash flow in the
future and to paying a competitive dividend that grows with
earnings over time.
Trane Technologies has paid consecutive quarterly cash dividends
on its common shares since 1919 and annual dividends since
1910.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our
strategic brands Trane® and Thermo King®, and our portfolio of
environmentally responsible products and services, we bring
efficient and sustainable climate solutions to buildings, homes,
and transportation. Learn more at tranetechnologies.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240206559988/en/
Media: Travis Bullard +1 919-802-2593
Media@tranetechnologies.com
Investors: Zachary Nagle +1 704-990-3913
InvestorRelations@tranetechnologies.com
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