Today, Johnson Controls (JCI) announced an 11.1% increase in the company's quarterly dividend. The new quarterly dividend will equal 13 cents per share versus 11 cents per share in the same quarter last year. This increase represents the 33rd consecutive year that JCI has increased its annual dividend. The payout ratio is 21% based on estimated 9/30/2008 earnings of $2.53. This is in line with the 5-year payout ratio of 21%.
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