GO
Loading...

Honeywell to Buy Back up to $3 Billion in Stock

Dow component Honeywell International said Friday its board of directors authorized the company to buy back up to $3 billion in common stock.

"Our share repurchase program, combined with three consecutive annual 10% increases in the dividend rate and a successful acquisition track record, demonstrate Honeywell's commitment to deploying cash to build shareowner value," Honeywell Chairman and CEO Dave Cote said in a press release.

The company will buy back stock "from time to time" using cash from operations.

Honeywell said it has repurchased about $3.8 billion in stock since the fourth quarter of 2003.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More

Don't Miss

U.S. Video