FARMINGTON, Conn., Sept. 18, 2020 /PRNewswire/ -- Otis
Worldwide Corporation (NYSE: OTIS) Board of Directors today
declared, effective October 5, 2020,
a quarterly dividend of $0.20 per share of Otis' common stock.
The dividend will be payable on December 10, 2020, to
shareholders of record at the close of business on November
20, 2020.
About Otis
Otis is the world's leading elevator and
escalator manufacturing, installation and service company. We move
2 billion people a day and maintain more than 2 million customer
units worldwide, the industry's largest maintenance portfolio.
Headquartered in Connecticut, USA, Otis is 69,000 people strong, including
40,000 field professionals, all committed to meeting the diverse
needs of our customers and passengers in more than 200 countries
and territories worldwide. For more
information, visit www.otis.com and follow us on
LinkedIn, Instagram, Facebook and Twitter @OtisElevatorCo.
Cautionary Statement
This release includes statements
related to anticipated earnings, cash flow and dividends that
constitute "forward-looking statements" under the securities laws.
All forward-looking statements involve risks, uncertainties and
assumptions that may cause actual results to differ materially from
those expressed or implied in the forward-looking statements. Past
dividends provide no assurance as to future dividends. The
payment and amount of future dividends could vary significantly
from past amounts due to a number of risks and uncertainties.
Risks and uncertainties include: (1) the effect of economic
conditions in the industries and markets in which Otis and its
businesses operate in the U.S. and globally and any changes
therein, including financial market conditions, fluctuations in
commodity prices, interest rates and foreign currency exchange
rates, levels of end market demand in construction, the impact of
weather conditions, pandemic health issues (including COVID-19 and
its effects, among other things, on global supply, demand, and
distribution disruptions as the outbreak continues and results in
an increasingly prolonged period of travel, commercial and/or other
similar restrictions and limitations) and the financial condition
of Otis' customers and suppliers; (2) the expected benefits of
Otis' separation from United Technologies Corporation; (3) risks
associated with indebtedness incurred as a result of financing
transactions undertaken in connection with the separation; (4) the
risk that dis-synergy costs, costs of restructuring transactions
and other costs incurred in connection with the separation will
exceed Otis' estimates; (5) the impact of the separation on Otis'
businesses and Otis' resources, systems, procedures and controls,
diversion of management's attention and the impact on relationships
with customers, suppliers, employees and other business
counterparties; (6) challenges in the development and production of
new products and services; and (7) the effect of changes in
laws and regulations and political conditions in countries in which
we operate and other factors beyond our control. The above list of
factors is not exhaustive or necessarily in order of importance.
For additional information on identifying factors that may cause
actual results to vary from those stated in forward-looking
statements, see Otis' registration statements on Form 10 and Form
S-3 and the reports of Otis on Forms 10-K, 10-Q and 8-K filed with
or furnished to the SEC from time to time. Any forward-looking
statement speaks only as of the date on which it is made, and Otis
assumes no obligation to update or revise such statement, whether
as a result of new information, future events or otherwise, except
as required by applicable law.
Media
Contact:
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Ray
Hernandez
|
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+1-860-674-3029
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Ray.Hernandez@otis.com
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IR
Contact:
|
Stacy
Laszewski
|
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+1-860-676-6011
|
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investorrelations@otis.com
|
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SOURCE Otis Worldwide Corporation