DUBLIN--(BUSINESS WIRE)--The Board of Directors of power management company Eaton (NYSE:ETN) today declared a 10 percent increase in the quarterly dividend from $0.60 per ordinary share to $0.66 per ordinary share. The dividend is payable March 23, 2018 to shareholders of record at the close of business on March 12, 2018.
For U.S. tax purposes, Eaton estimates that all of the 2018 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 2017, 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 2017 sales of $20.4 billion. We provide energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton is dedicated to improving the quality of life and the environment through the use of power management technologies and services. Eaton has approximately 96,000 employees and sells products to customers in more than 175 countries. For more information, visit Eaton.com.