Tyco International Increases Quarterly Dividend 36 Percent to 15 Cents per Share; Initiates New $1 Billion Share Repurchase Program
Separately, the Board authorized a new program to purchase up to $1billion of the company's common stock. The company expects to repurchaseshares from time to time based on market conditions.
Tyco Chairman and Chief Executive Officer Ed Breen said: "The increase inour quarterly dividend and the initiation of a new share repurchase programreflect the strength of our cash flow and our confidence in Tyco's future.With the separation behind us, this is the appropriate time for us to makethese moves."
Tyco International (NYSE: TYC) is a diversified, global company thatprovides vital products and services to customers in more than 60 countries.Tyco is a leading provider of security products and services, fire protectionand detection products and services, valves and controls, and other industrialproducts. Tyco completed the spin-off of its healthcare and electronicsbusinesses on June 29, 2007 and today has annual revenues of more than $18billion and 110,000 employees. More information on Tyco can be found athttp://www.tyco.com .
SOURCE Tyco International Ltd.
You May Also Like