Trane Technologies Increases Annual Dividend by 12 Percent
February 09 2023 - 6:30AM
Business Wire
The Board of Directors of Trane Technologies plc (NYSE:TT), a
global climate innovator, today announced it will increase its
dividend by 12%, from $0.67 to $0.75 per share quarterly and from
$2.68 to $3.00 per share annualized. The dividend is payable March
31, 2023 to shareholders of record on March 3, 2023.
“Our purpose-driven strategy and strong execution enables us to
continuously invest in sustainable innovation while returning
substantial cash to shareholders,” said Dave Regnery, chair and
chief executive officer. “We have increased the dividend by 42%
since the launch of Trane Technologies as a focused climate
innovator in March of 2020. Today’s announcement reflects
confidence in our ability to generate strong free cash flow and
demonstrates our commitment to pay a competitive dividend that
grows with earnings over time.”
Trane Technologies has paid consecutive quarterly cash dividends
on its common shares since 1919 and annual dividends since
1910.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our
strategic brands Trane® and Thermo King®, and our portfolio of
environmentally responsible products and services, we bring
efficient and sustainable climate solutions to buildings, homes,
and transportation. Learn more at tranetechnologies.com.
This communication includes “forward-looking statements,” which
are statements that are not historical facts, including statements
that relate to our future free cash flows and future payments of
dividends. These forward-looking statements are based on our
current expectations and are subject to risks and uncertainties,
which may cause actual results to differ materially from our
current expectations. Such factors include, but are not limited to,
global economic conditions, including recessions and economic
downturns, inflation, volatility in interest rates and foreign
exchange; changing energy prices; the impact of the global COVID-19
pandemic or future health care emergencies on our business, our
suppliers and our customers; the Russia-Ukraine conflict; climate
change and our sustainability strategies and goals; commodity
shortages; supply chain constraints and price increases; government
regulation; restructurings activity and cost savings associated
with such activity; secular trends toward decarbonization, energy
efficiency and internal air quality, the outcome of any litigation,
including the risks and uncertainties associated with the Chapter
11 proceedings for our deconsolidated subsidiaries Aldrich Pump LLC
and Murray Boiler LLC; cybersecurity risks; and tax audits and tax
law changes and interpretations. Additional factors that could
cause such differences can be found in our Form 10-K for the year
ended December 31, 2021, as well as our subsequent reports on Form
10-Q and other SEC filings. We assume no obligation to update these
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230209005159/en/
Media: Shelby Hansen +1 704-990-3835
shelby.hansen@tranetechnologies.com
Investors: Zachary Nagle +1 704-990-3913
InvestorRelations@tranetechnologies.com
Trane Technologies (NYSE:TT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Trane Technologies (NYSE:TT)
Historical Stock Chart
From Apr 2023 to Apr 2024