Johnson Controls cuts dividend by 13.8% following spin-off
The quarterly cash dividend payment of $0.25 per share will be payable on Jan. 6, 2017, to shareholders of record as of the close of business on Dec. 14, 2016. Johnson Controls has paid a consecutive dividend since 1887.
Based on a $43.73 stock price the new $1 per share annual dividend translates into an estimated yield of 2.3%.
JCI offers air systems, building management, HVAC controls, security, and fire safety solutions.