ARLINGTON, Va. - RTX (NYSE: RTX) has announced that its Board of Directors has declared a quarterly cash dividend of 63 cents per outstanding share of common stock, continuing its long-standing practice of returning value to shareholders. The dividend is scheduled to be paid on September 5, 2024, to shareholders of record as of August 16, 2024.
This declaration marks a continuation of RTX's dividend payments, which have been a consistent part of the company's financial practices since 1936. RTX, a major player in the aerospace and defense industry, employs over 185,000 people globally. The company operates through its principal businesses—Collins Aerospace, Pratt & Whitney, and Raytheon—specializing in the advancement of aviation, integrated defense systems, and the development of next-generation technology solutions and manufacturing.
In 2023, RTX reported sales of $69 billion and is headquartered in Arlington, Virginia. The company's commitment to innovation and technology leadership is reflected in its extensive portfolio of products and services designed to meet the critical challenges of its global customer base.
While the announcement of the dividend is a forward-looking statement, it is important to note that such statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected. The company cautions that past dividends do not guarantee future payments, as they may vary based on a number of factors, including the company's financial performance and market conditions.
The information regarding the dividend declaration is based on a press release statement from RTX. Investors and shareholders are advised to consider the inherent risks and uncertainties associated with forward-looking statements and to review the company's filings with the SEC, which detail potential risk factors under the caption "Risk Factors."
InvestingPro Insights
The recent dividend declaration by RTX is a testament to its steadfast approach to shareholder returns, reinforcing a legacy of consistent dividend payments. With a dividend yield standing at 2.34% as of the last twelve months up to Q1 2024, RTX underscores its commitment to investors. This is particularly noteworthy given the company's history of maintaining dividend payments for an impressive 54 consecutive years, a fact that is highlighted among the InvestingPro Tips for RTX.
InvestingPro data further illuminates the company's financial landscape, showing a market capitalization of $142.48 billion and a revenue growth of 12.15% for Q1 2024, indicating a robust financial position. These figures, coupled with a notable 20.78% total return over the last three months, suggest a positive trajectory for the company's stock performance. Moreover, RTX's price is hovering near its 52-week high, at 98.6% of the peak, which may interest investors looking for companies with strong momentum.
For those considering deeper analysis, RTX presents several attractive points covered under InvestingPro Tips, including management's proactive share buyback strategy and the anticipation of net income growth this year. With the company trading at a high earnings multiple, investors may wish to evaluate the potential for growth against the current valuation. For a more comprehensive understanding of RTX's financial health and future prospects, prospective investors are encouraged to explore the additional 11 tips available on InvestingPro. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.