The Board of Directors of power management company Eaton (ETN) today declared a quarterly dividend of $0.71 per ordinary share. The dividend is payable November 15, 2019 to shareholders of record at the close of business on November 1, 2019.
For U.S. tax purposes, Eaton estimates that all of the 2019 dividend will be treated as a return of capital to shareholders, to the extent of the shareholder’s tax basis in the shares. For U.S. tax purposes, Eaton estimates that all of any 2020 dividend will be treated as dividend income and not return of capital as has been the case in prior years. Additional information about the tax treatment of the dividend, including actual return of capital information for 2018, is available at the investor relations page of the Eaton website, www.eaton.com.
Eaton has paid dividends on its shares every year since 1923.
Eaton is a power management company with 2018 sales of $21.6 billion. We provide energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton is dedicated to improving the quality of life and the environment through the use of power management technologies and services. Eaton has approximately 100,000 employees and sells products to customers in more than 175 countries. For more information, visit Eaton.com.
This news release contains forward-looking statements about the expected tax treatment of our dividends. These statements should be used with caution and are subject to various risks and uncertainties, some of which are outside of the company’s control. Factors that could change the tax treatment include changes in tax laws and regulations or economic conditions. Please consult your tax advisor for advice on these matters. We do not assume any obligation to update these forward-looking statements.