Raytheon (RTN) will raise its quarterly dividend by 8.8 percent to $0.8675 per share in the first quarter of 2018. The new dividend yield for RTN is 1.6%.

The new dividend will be paid on May 10, 2018, to shareholders of record as of the close of business on April 11, 2018.

"With today's announcement, we have increased our annual dividend for 14 consecutive years," said Thomas A. Kennedy, Raytheon Chairman and CEO. "The dividend increase is a key part of our capital deployment strategy, and reflects our confidence in the company's growth outlook and our continued focus on creating value for shareholders."

Raytheon Company develops products, services and solutions for defense and other government markets worldwide. The company's business segments are: Integrated Defense Systems, Intelligence, Information and Services, Missile Systems, Space and Airborne Systems and Forcepoint. Raytheon serves both domestic and international customers primarily as a prime contractor or subcontractor on defense and related programs for government customers. Raytheon was founded in 1922 and has raised its dividend every year since 2005.