Honeywell International Inc. (NASDAQ:HON) announced Friday it is boosting its annual cash dividend from $4.32 to $4.52 per share.

The increase would apply to the fourth-quarter dividend of $1.13 per share, payable on Dec. 6, 2024, to holders of record as of the close of business on Nov. 15.

This represented the 15th increase in 14 consecutive years.

“By further aligning our portfolio with the three compelling megatrends — automation, the future of aviation, and the energy transition — we continue accelerating progress against our disciplined commitment to deploy at least $25 billion toward dividends, acquisitions, capital expenditures and share buybacks through 2025,” said Vimal Kapur, chairman and chief executive officer of Honeywell.

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According to Benzinga Pro, Honeywell stock gained more than 12% in the past year. Investors can gain exposure to the stock via Gabelli Commercial Aerospace and Defense ETF (NYSE:GCAD) and Amplify CWP Enhanced Dividend Income ETF (NYSE:DIVO).

Earlier this month, the company stated it is working to develop an artificial intelligence (AI)-enabled Multi-Modal Intelligent Agent for Honeywell mobile devices powered by Qualcomm Inc (NASDAQ:QCOM).

The agent would allow workers and customers in the distribution center and retail industries to interact naturally with their handheld devices through voice, pictures, and barcodes.

HON Price Action: Honeywell shares are trading higher by 0.67% to $208.42 at publication Friday.

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