Honeywell International (HON) will raise its quarterly dividend by 10.1 percent to $0.82 per share in the fourth quarter of 2018. Last year the industrial company hiked its dividend from 66.5 cents to 74.5 cents per share quarterly.

The next dividend is payable on December 7, 2018, out of surplus to shareowners of record at the close of business on November 16, 2018. The new annual dividend of $3.28 per share yields 2.0% at a stock price of $166.17.

"Honeywell remains committed to delivering value to shareowners through our aggressive capital deployment strategy," said Chairman and Chief Executive Officer Darius Adamczyk. "Since 2010, and including today's announcement, we have increased the dividend rate 10% or more nine times. With our strong outlook, significant balance sheet capacity, and positive trends in our major end markets, Honeywell is well positioned to continue our track record of performance in 2019 and beyond."

Honeywell International Inc. is a technology and manufacturing company. The company delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally.