WALTHAM, Mass., March 23, 2016 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Board of Directors has voted to increase the company's annual dividend payout rate by 9.3 percent, from $2.68 to $2.93 per share. The Board also authorized payment of a quarterly cash dividend of $0.7325 per outstanding share of common stock, to be paid on May 12, 2016, to shareholders of record as of the close of business on April 6, 2016. Payment of quarterly dividends is subject to Board authorization.

"With today's announcement, we have increased our annual dividend for 12 consecutive years," said Thomas A. Kennedy, Raytheon Chairman and CEO. "The dividend increase is a key part of our balanced capital deployment strategy, and reflects our confidence in the company's growth and financial outlook and our continued focus on creating value for shareholders."

About Raytheon
Raytheon Company, with 2015 sales of $23 billion and 61,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 94 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5I™ products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Mass. Visit us at www.raytheon.com and follow us on Twitter @raytheon.

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SOURCE Raytheon Company