PEMBROKE, Bermuda, Sept. 13 /PRNewswire-FirstCall/ -- Tyco
International Ltd. (NYSE: TYC, BSX: TYC) announced today that its Board of
Directors approved an increase in the company's quarterly dividend to 15
cents per share for the first quarter of fiscal 2008. The new quarterly
dividend represents a 36% increase over the quarterly dividend of
approximately 11 cents that the company previously indicated it expected to
pay following the separation of Tyco into three public companies. The
15-cent dividend for the first quarter will be payable on November 1, 2007
to shareholders of record on October 1, 2007.
Separately, the Board authorized a new program to purchase up to $1
billion of the company's common stock. The company expects to repurchase
shares from time to time based on market conditions.
Tyco Chairman and Chief Executive Officer Ed Breen said: "The increase
in our quarterly dividend and the initiation of a new share repurchase
program reflect the strength of our cash flow and our confidence in Tyco's
future. With the separation behind us, this is the appropriate time for us
to make these moves."
Tyco International (NYSE: TYC) is a diversified, global company that
provides vital products and services to customers in more than 60
countries. Tyco is a leading provider of security products and services,
fire protection and detection products and services, valves and controls,
and other industrial products. Tyco completed the spin-off of its
healthcare and electronics businesses on June 29, 2007 and today has annual
revenues of more than $18 billion and 110,000 employees. More information
on Tyco can be found at http://www.tyco.com .
SOURCE Tyco International Ltd.
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Related links:
http://www.tyco.com
CONTACT:
Media, Paul Fitzhenry, +1-609-720-4261,
pfitzhenry@tyco.com, or Investors, Ed Arditte, +1-609-720-4621,
or Karen Chin, +1-609-720-4398, all of Tyco International Ltd.
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