From AFX News Limited
CLEVELAND -- Industrial parts and systems manufacturer Eaton Corp. on Monday raised its quarterly dividend 10 percent and increased its share buyback program.
The Cleveland, OH-based maker of electrical and hydraulic parts and systems for the automotive, truck and aircraft markets said it will pay a 43-cent dividend on Feb. 23 to shareholders of record on Feb. 5.
Eaton also authorized the repurchase of 10 million shares. That replaces the existing program, which has 1.3 million shares remaining from the original 10 million share allotment in 2005.
The company currently has roughly 149 million shares outstanding.
Copyright 2007 AFX News Limited. All Rights Reserved.
