Trane Technologies Plans New $3B Stock Buyback, Declares Dividend

• Trane Technologies PLC (NYSE:TT) declared a quarterly dividend of $0.67 per ordinary share or $2.68 annualized. The dividend rate represents an increase of 14% compared to the prior dividend of $0.59 per share.
• The dividend is payable on March 31, 2022, to shareholders of record on March 4, 2022.
• The company recently revealed its intention to increase the annual dividend by 14%, to $2.68 per share annualized, starting in Q1 of 2022.
• Related: Trane Technologies Clocks 28% Bookings Growth In Q4; Beats Consensus
• The company's board also authorized a new share repurchase program of up to $3 billion, to commence upon completing the prior $2 billion program.
• The prior 2021 program had approximately $1.05 billion remaining as of January 31, 2022.
• Also read: Analysts Cut Trane Technologies Price Target Post Q4 Results
• Price Action: TT shares are trading lower by 1.24% at $162.90 on the last check Thursday.