DUBLIN--(BUSINESS WIRE)--The Board of Directors of power management company Eaton (NYSE:ETN) today declared a five percent increase in the quarterly dividend from $0.57 per ordinary share to $0.60 per ordinary share. The dividend is payable March 17, 2017 to shareholders of record at the close of business on March 6, 2017.
For U.S. tax purposes, Eaton estimates that all of the 2017 dividend will be treated as a return of capital to shareholders, to the extent of the shareholder’s tax basis in the shares. Additional information about the tax treatment of the dividend, including actual return of capital information for 2016, is available at the investor relations page of the Eaton website, www.Eaton.com.
Eaton has paid dividends on its shares every year since 1923.
Eaton is a power management company with 2016 sales of $19.7 billion. Eaton provides energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton has approximately 95,000 employees and sells products to customers in more than 175 countries. For more information, visit www.eaton.com.