Johnson Controls cuts dividend by 13.8% following spin-off

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Johnson Controls International plc (JCI) will lower its quarterly dividend from $0.29 to $0.25 per share following it's merger earlier this year with Tyco International and the Adient separation (October 31st).

The quarterly cash dividend payment of $0.25 per share will be payable on Jan. 6, 2017, to shareholders of record as of the close of business on Dec. 14, 2016. Johnson Controls has paid a consecutive dividend since 1887.

Based on a $43.73 stock price the new $1 per share annual dividend translates into an estimated yield of 2.3%.

JCI offers air systems, building management, HVAC controls, security, and fire safety solutions.

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