SCHAFFHAUSEN, Switzerland, Dec. 21, 2012 /PRNewswire/ -- The Board of Directors of Tyco (NYSE: TYC) has declared a quarterly dividend of $0.15 per share, payable on February 20, 2013 to shareholders of record at the close of business on January 25, 2013.
Additionally, the board has recommended that shareholders approve an annual dividend of $0.64 per share at the company's annual general meeting of shareholders to be held on March 6, 2013. The proposed $0.64 annual dividend represents an approximate 7 percent increase over the post-separation annualized dividend of $0.60 approved by shareholders at the special general meeting in September 2012.
"The dividend increase reflects our confidence in the strength of Tyco's businesses and our ability to generate strong cash flow," said Tyco Chief Executive Officer George Oliver. "This action is also consistent with our capital allocation strategy to invest in our businesses, make selective acquisitions and return excess cash to shareholders."
Tyco also announced that its 2013 annual general meeting of shareholders will be held on Wednesday, March 6, 2013 at 3:00 p.m. Central European time at the Park Hyatt Zurich Hotel, Beethoven-Strasse 21, 8002 Zurich, Switzerland. Shareholders of record as of January 7, 2013 will be entitled to vote at the annual general meeting. Additionally, individuals who request to become registered shareholders after the record date but prior to March 1, 2013, may also attend and vote those shares at the meeting, subject to certain conditions.
Tyco (NYSE: TYC) is the world's largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. A company with $10+ billion in revenue, Tyco has more than 70,000 employees in more than 1,000 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visit the new www.tyco.com.
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