Trane Technologies Increases Dividend 11% and Authorizes New $2 Billion Share Repurchase Program
The Board of Directors of Trane Technologies plc (NYSE:TT) declared a quarterly dividend of $0.59 per share, representing an 11% increase, with an annualized rate of $2.36. The dividend is payable on March 31, 2021, to shareholders of record on March 5, 2021. Additionally, a new share repurchase program of up to $2 billion has been authorized, set to begin after the completion of the current $1.5 billion program. These announcements underline Trane Technologies' strong financial position and commitment to returning value to shareholders.
- 11% increase in quarterly dividend to $0.59 per share, indicating strong shareholder returns.
- New $2 billion share repurchase program authorized to enhance shareholder value.
- Continued ability to generate strong free cash flow and maintain high levels of business reinvestment.
- None.
The Board of Directors of Trane Technologies plc (NYSE:TT), a global climate innovator, declared a quarterly dividend of
The dividend is payable March 31, 2021, to shareholders of record on March 5, 2021.
The Board of Directors also authorized a new share repurchase program of up to
“Today’s announcements reflect our strong balance sheet and liquidity position and underscore our continued confidence in our ability to generate strong free cash flow, maintain high levels of business reinvestment, and to deploy
The timing of the program will be dependent on the company’s available liquidity and cash flow, and general market conditions. The repurchase program may be executed through various methods, including open market repurchases.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our environmentally responsible portfolio of products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Learn more at TraneTechnologies.com.
This news release includes “forward-looking statements,” which are statements that are not historical facts, including, but not limited to, statements that relate to the timing and execution of the Company’s new share repurchase program and the amount of shares to be repurchased (if any). The forward-looking statements in this news release are based on current expectations and assumptions that are subject to risks and uncertainties, many of which are outside of our control, and could cause results to materially differ from expectations. Such factors include, but are not limited to, the impact of the global COVID-19 pandemic on our business, our suppliers and our customers, global economic conditions, the outcome of any litigation, demand for our products and services, 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, 2019, as well as our subsequent reports on Form 10-Q and other SEC filings. We assume no obligation to update these forward-looking statements.
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