WALTHAM, Mass., March 19, 2014 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Board of Directors has voted to increase the company's annual dividend payout rate by 10 percent, from $2.20 to $2.42 per share. The Board also authorized payment of a quarterly cash dividend of $0.605 per outstanding share of common stock, to be paid on May 1, 2014, to shareholders of record as of the close of business on April 2, 2014. Payment of quarterly dividends is subject to Board authorization.

"Based on Raytheon's strong financial position and outlook, we have raised our annual dividend for the tenth consecutive year," said William H. Swanson, Raytheon's Chairman and CEO. "The increase reflects our continued confidence in the company's performance and our balanced capital deployment strategy."

About Raytheon
Raytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 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 cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.

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SOURCE Raytheon Company