United Technologies (UTX) will raise its quarterly dividend by 6.1 percent to $0.70 per share in the third quarter of 2017. This follows a 2 cent dividend hike to 66 cents quarterly last summer.

The increased dividend will be payable September 10, 2017, to shareowners of record at the close of business August 18. The ex-date for the first 70 cent per share quarterly dividend is August 16.

"Today's announcement to increase our dividend reflects our ongoing commitment to remain disciplined in our capital allocation and deliver value to shareowners through our long-term growth strategy" said UTC Chairman and Chief Executive Officer Greg Hayes.

United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. UTC has paid cash dividends on its common stock every year since 1936.