DUBLIN, Feb. 15, 2011 /PRNewswire/ — Cooper Industries plc (NYSE: CBE) announced today that its Board of Directors increased the annual dividend from $1.08 to $1.16 per share at its regularly scheduled board meeting on February 15.
The first quarterly dividend of $0.29 per share will be paid on April 1, 2011 to shareholders of record as of February 28, 2011.
“Cooper is committed to increasing shareholder value by investing in its core businesses and returning cash directly to shareholders through our repurchase program and paying a competitive dividend,” said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian. “This 7% increase follows an 8% increase in 2010 and signals our continued confidence in Cooper’s ability to generate strong cash flow and return cash to our shareholders while continuing to invest in our core.”