CORK, Eire, March 11, 2021 /PRNewswire/ — The Johnson Controls Intercontinental plc (NYSE: JCI) Board of Administrators now permitted an increase to its typical yearly dollars dividend to $1.08 per frequent share from $1.04 beforehand, representing a payout ratio of somewhere around 42 percent. The improve will be productive commencing with the fiscal next quarter dividend payment of $.27 for every share, which was declared nowadays and will be payable on April 16, 2021 to shareholders of record at the shut of small business on March 22, 2021. Johnson Controls has paid a consecutive dividend considering the fact that 1887.
The board also improved the company’s share repurchase authorization by $4 billion, incorporating to the $2. billion remaining as of the conclusion of the to start with fiscal quarter less than the share repurchase authorization approved in 2019.
The improve to the share repurchase authorization does not effect Johnson Controls beforehand announced intent to repurchase somewhere around $1 billion of its regular shares all through fiscal 2021. Johnson Controls intends to use the elevated authorization as aspect of the execution of its capital allocation approach for the duration of the up coming a number of many years.
“Today’s announcement displays the power of our harmony sheet and liquidity situation, as very well as self esteem that our running performance will continue on to make strong no cost cash move while allowing us to commit in our firms,” mentioned George Oliver, chairman and main govt officer. “With our sturdy dollars move and stability sheet, and our determination to a well balanced cash allocation framework, we remain well positioned to execute on our strategic development initiatives and return substantial money to shareholders,” Oliver ongoing.
In utilizing share repurchases, Johnson Controls may well buy shares in the open sector or by means of a variety of approaches as permitted by applicable securities guidelines and other legal necessities, which includes by means of the use of a Rule 10b5-1 plan. There exists no obligation less than the share repurchase authorization to repurchase any individual sum of shares within just any timeframe, and the manner, timing and sum of any acquire will be decided topic to an analysis of the price tag and availability of the Johnson Controls’ shares, common industry ailments, and other factors, despite the fact that Johnson Controls may well enter into a pre-organized buying and selling approach below Rule 10b5-1 from time to time. Johnson Controls’ authorization to repurchase shares does not have a established expiration date and may well be amended, suspended or terminated at any time at the Johnson Controls’ discretion without the need of prior notice.
About Johnson Controls:
At Johnson Controls, we renovate the environments where by people today live, get the job done, discover and play. From optimizing setting up overall performance to strengthening security and maximizing comfort, we travel the results that subject most. We produce our assure in industries this sort of as health care, instruction, knowledge centers and manufacturing. With a international workforce of 100,000 specialists in additional than 150 nations around the world and above 130 a long time of innovation, we are the electric power guiding our customers’ mission. Our major portfolio of setting up technological know-how and alternatives consists of some of the most dependable names in the business, these as Tyco®, YORK®, Metasys®, Ruskin®, Titus®, Frick®, Penn®, Sabroe®, Simplex®, Ansul® and Grinnell®. For extra information and facts, visit www.johnsoncontrols.com or comply with us @johnsoncontrols on Twitter.
Johnson Controls Global plc Cautionary Assertion Regarding Ahead-Searching Statements
Johnson Controls Worldwide plc has created statements in this communication that are ahead-looking and consequently are issue to pitfalls and uncertainties. All statements in this document other than statements of historical point are, or could be, “forward-looking statements” within just the this means of the Non-public Securities Litigation Reform Act of 1995. In this conversation, statements with regards to Johnson Controls’ future financial posture, gross sales, charges, earnings, money flows, other actions of benefits of functions, synergies and integration opportunities, capital expenditures and debt levels are forward-wanting statements. Text this kind of as “may perhaps,” “will,” “count on,” “intend,” “estimate,” “anticipate,” “feel,” “must,” “forecast,” “job” or “system” and terms of identical indicating are also commonly meant to establish ahead-hunting statements. However, the absence of these text does not imply that a statement is not ahead-looking. Johnson Controls cautions that these statements are matter to various crucial dangers, uncertainties, assumptions and other components, some of which are further than Johnson Controls’ control, that could induce Johnson Controls’ actual results to differ materially from all those expressed or implied by this sort of forward-hunting statements, together with, among the some others, pitfalls linked to: Johnson Controls’ ability to deal with typical financial, business enterprise, funds industry and geopolitical conditions, including the impacts of natural disasters, pandemics and outbreaks of contagious diseases and other adverse community health developments, this kind of as the COVID-19 pandemic the strength of the U.S. or other economies modifications or uncertainty in legislation, rules, fees, policies or interpretations that effect Johnson Controls’ organization functions or tax standing the ability to build or receive new goods and technologies that realize market acceptance adjustments to rules or procedures governing international trade, together with enhanced tariffs or trade limits keeping the potential, trustworthiness and security of our business and product or service facts technological know-how infrastructure the threat of infringement or expiration of intellectual house rights any delay or inability of Johnson Controls to realize the anticipated positive aspects and synergies of recent portfolio transactions such as its merger with Tyco and the disposition of the Power Solutions business the result of litigation and governmental proceedings the capacity to use and keep important senior management the tax remedy of the latest portfolio transactions significant transaction expenses and/or unknown liabilities linked with this sort of transactions the availability of uncooked components and component merchandise fluctuations in currency exchange charges operate stoppages, union negotiations, labor disputes and other issues linked with the labor power the cancellation of or improvements to business arrangements. A in depth dialogue of threats related to Johnson Controls’ small business is provided in the area entitled “Risk Factors” in Johnson Controls’ Yearly Report on Sort 10-K for the 2020 fiscal year submitted with the SEC on November 16, 2020, which is obtainable at www.sec.gov and www.johnsoncontrols.com below the “Traders” tab. Shareholders, prospective buyers and some others ought to contemplate these components in analyzing the ahead-wanting statements and need to not put undue reliance on these kinds of statements. The forward-seeking statements included in this communication are made only as of the date of this doc, except usually specified, and, other than as essential by regulation, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to replicate events or conditions transpiring just after the date of this communication.
Resource Johnson Controls Intercontinental plc