Defense contractor Raytheon Technologies Corp. said Monday its board has agreed to raise its quarterly cash dividend by 7% to 51 cents a share. The new dividend will be payable June 17 to shareholders of record as of May 21. “The outlook for our company is positive and we remain on track to return $18 to $20 billion to shareowners in the four years following the merger,” Chief Executive Greg Hayes said in a statement, referring to the merger with the former United Technologies Corp. that created Raytheon Technologies. Shares
were up 0.3% premarket and have gained 12.6% in the year to date, while the S&P 500 has gained 11.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.