GO
Loading...

Enter multiple symbols separated by commas

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

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • CEO discuss the 'Buffett factor'

    John Stumpf, Wells Fargo chairman & CEO; Kenneth Chenault; American Express chairman & CEO; Ginni Rometty, IBM chairman & CEO; and Muhtar Kent, Coca-Cola chairman & CEO, discuss their relationships with Warren Buffett and marvel at just how easy it's been to communicate with him.

  • Rometty on Watson: He never stops learning

    IBM CEO Ginni Rometty talks Watson, and how it's going to help people make decisions. It never stops learning, she says. Rometty also discusses the company's dividend.

  • Why Buffett bought more IBM

    Berkshire CEO Warren Buffett addresses his purchase of more IBM shares and allegations of predatory lending at Clayton Homes.