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Honeywell ups dividend, CNBC says aerospace spinoff on ice
September 29, 2017 / 1:40 PM / 2 months ago

Honeywell ups dividend, CNBC says aerospace spinoff on ice

Sept 29 (Reuters) - U.S. industrial conglomerate Honeywell International Inc will increase its annual divided by 12 percent as of the fourth quarter of this year, the company said on Friday, as it resists pressure from investors to part with its aerospace unit.

Separately, CNBC cited sources as saying that the company would not now spin off the aerospace unit, as activist investor Daniel Loeb and his hedge fund Third Point LLC have demanded.

Honeywell was not immediately reachable for comment. (Reporting by Ankit Ajmera in Bengaluru; editing by Patrick Graham)

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