MILWAUKEE, July 25 /PRNewswire-FirstCall/ — Johnson Controls, Inc. (NYSE:JCI) today announced a three-for-one split of its stock.
The split will become effective October 2, 2007 to shareholders of record September 14, 2007. The company also declared a regular quarterly cash dividend of $.33 per share which will be paid as $.11 on a post-split basis, with the same payable and record dates.
John M. Barth, chairman and CEO, said “Johnson Controls is focused on improving its returns to shareholders through the combination of sustained profitable growth, improving our return on invested capital, business diversification and improved cash flows to maintain a strong capital structure while investing in value accretive acquisitions.” He added that the company anticipates continuing to increase its cash dividend in line with earnings growth.
Fiscal 2007 will mark Johnson Controls’ 32nd consecutive year that it has increased its dividend. The company’s Board of Directors annually reviews its dividend payout at its November meeting.
The company’s last stock split, on a two-for-one basis, was in January 2004. Since then the company’s share price has approximately doubled.
On July 18 the company reported record sales and earnings for its 2007 third-quarter and confirmed its outlook for record results for the full fiscal year.
Johnson Controls (NYSE:JCI) is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 140,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. For additional information, please visit http://www.johnsoncontrols.com/.
Johnson Controls, Inc. (“the Company”) has made forward-looking statements in this document pertaining to its financial results for fiscal 2007 that are based on preliminary data and are subject to risks and uncertainties. All statements other than statements of historical fact are statements that are or could be deemed forward-looking statements. The Company cautions that numerous important factors, such as automotive vehicle production levels and schedules, the ability to mitigate the impact of higher raw material and energy costs, the strength of the U.S. or other economies, currency exchange rates, cancellation of commercial contracts, labor interruptions, the ability to realize acquisition related integration benefits, and the ability to execute on restructuring actions according to anticipated timelines and costs, as well as those factors discussed in the Company’s most recent Form 10-K filing (dated December 5, 2006) could affect the Company’s actual results and could cause its actual consolidated results to differ materially from those expressed in any forward-looking statement made by, or on behalf of, the Company.