WALTHAM, Mass., March 23, 2011 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Board of Directors has voted to increase the Company's annual dividend payout rate by 15 percent from $1.50 to $1.72 per share. The Board also authorized payment of a quarterly cash dividend of $0.43 per outstanding share of common stock to be paid on April 28, 2011 to shareholders of record as of the close of business on April 6, 2011. Payment of quarterly dividends is subject to Board authorization.

"This marks the seventh consecutive year that we have raised our dividend," said William H. Swanson, Raytheon's Chairman and CEO. "The dividend increase reflects our company's strong financial position, continued confidence in the future and ongoing commitment to our shareholders."

Raytheon Company (NYSE: RTN), with 2010 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 89 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.

SOURCE Raytheon Company