By Colin Kellaher
TE Connectivity Ltd. on Friday said its board approved a recommendation to raise the quarterly dividend by 5.4%, to 59 cents a share from 56 cents, for the four fiscal quarters starting in April.
The new quarterly rate, equal to $2.36 a year, would represent an annual yield of about 1.93% based on Thursday's closing price of $122.13, up from about 1.83%.
The Schaffhausen, Switzerland, industrial-technology company said it will present the dividend increase for shareholder approval at its annual general meeting in March.
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(END) Dow Jones Newswires
December 09, 2022 06:32 ET (11:32 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.