Eaton has added several cents to its latest quarterly dividend. The company will hand out $0.42 per share of its common stock on March 22 to shareholders of record as of March 11. That amount represents an 11% raise over the previous disbursement, which the company had paid in each quarter of 2012. Before that, the dividend was $0.34 per share.

Eaton is a habitual dividend payer. Since 2010, it has adjusted its distribution at least once per year.

The company said it estimates that the bulk of the disbursement will be treated as a return of capital for U.S. tax purposes.


The new dividend annualizes to $1.68 per share, yielding 2.7% at Eaton's current stock price of $61.69. 

The article Eaton Raises Dividend originally appeared on Fool.com.

Fool contributor Eric Volkman and The Motley Fool have no position in Eaton. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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