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KBR increases quarterly dividend

HOUSTON (AP) -- KBR Inc. said Tuesday that it will increase its quarterly dividend by 60 percent, to 8 cents per share.

The engineering and construction company said the dividend is payable on April 15 to shareholders of record as of March 15.

CEO Bill Utt said the increase reflects the company's continued confidence in its ability to generate strong cash flow in the future and its commitment to return cash to shareholders.

Shares of Houston-based KBR rose 52 cents to close at $30.75.