Eaton Increases Dividend by 17 Percent and Announces 2-for-1 Stock Split

As announced in today’s fourth quarter 2010 earnings release, the Board of Directors of diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today declared a 17 percent increase in the quarterly dividend from $.58 per common share to $.68 per common share. The dividend is payable on February 25 to shareholders of record at the close of business on February 7, 2011. Eaton has paid dividends on common shares every year since 1923.

Eaton’s Board of Directors today also approved a two-for-one stock split. As a result of the split, shareholders will receive one additional common share for every share held. The stock split will occur at the close of business on February 28, 2011, for those shareholders of record as of February 7, 2011. Eaton shares will begin trading on a split-adjusted basis on March 1, 2011.

Eaton Corporation is a diversified power management company with 2010 sales of $13.7 billion. Celebrating its 100th anniversary in 2011, Eaton is a global technology leader in electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has approximately 70,000 employees and sells products to customers in more than 150 countries. For more information, visit www.eaton.com.

Eaton (NYSE:ETN)
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