WALTHAM, Mass., March 29, 2017 /PRNewswire/ -- The Board of Directors of Raytheon Company (NYSE: RTN) has voted to increase the company's annual dividend payout rate by 8.9 percent, from $2.93 to $3.19 per share. The Board also authorized payment of a quarterly cash dividend of $0.7975 per outstanding share of common stock, to be paid on May 11, 2017, to shareholders of record as of the close of business on April 12, 2017. Payment of quarterly dividends is subject to Board authorization.

"With today's announcement, we have increased our annual dividend for 13 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 2016 sales of $24 billion and 63,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 95 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. Follow us on Twitter.

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SOURCE Raytheon Company