Ingersoll Rand Boosts Dividend By 16% - Quick Facts

(RTTNews) - Diversified industrial company Ingersoll-Rand plc's (IR) board declared a quarterly dividend of 29 cents per ordinary share of the company, reflecting a 16 percent increase. The previous quarterly dividend was 25 cents per share. The annual dividend rate of $1.16 per share is up from $1.00.

"Since 2010 we have raised our annual dividend from 28 cents to $1.16 - an increase of more than 400 percent," said Michael Lamach, chairman and chief executive of Ingersoll Rand. He added, "Today's dividend increase further demonstrates the balanced capital allocation strategy we have communicated and executed for the past several years. That strategy continues to deliver value for our shareholders, while still investing in long-term growth opportunities for our business."

The dividend is payable March 31, 2015, to shareholders of record on March 13, 2015.