Otis reported mixed earnings in its second quarter. A deeper look shows the quarter may have been better than it appeared, but there are risks in its China business.
Otis (NYSE: OTIS), the world's leading company for elevator and escalator manufacturing, installation, and service, has completed the project to completely refurbish 231 escalators across 42 stations on the Singapore MRT North-South and East-West (NSEW) railway lines. Each of the escalators has been upgraded with additional safety features, higher efficiency machines and new energy-saving controllers.
The Otis Worldwide Corporation (NYSE: OTIS) Board of Directors today declared a quarterly dividend of $0.29 per share of Otis' common stock. The dividend will be payable on September 10, 2022, to shareholders of record at the close of business on August 19, 2022.