Johnson Controls Increases Dividend
19 November 1998
Johnson Controls Increases Dividend; Elects New DirectorMILWAUKEE, Nov. 18 -- Directors of Johnson Controls, Inc. (JCI) today increased the quarterly cash dividend on common shares to $.25 per share from $.23. The dividend is payable January 4, 1999 to shareholders of record December 11, 1998. With the increase, the indicated annual dividend rate for fiscal 1999 is $1.00, up from $.92 in 1998. Johnson Controls has increased its dividend for 24 consecutive years. "The increase is a reflection of our record financial performance in 1998 and our expectations for continued success in 1999," said James H. Keyes, Chairman and Chief Executive Officer. The company announced the retirement of Fred L. Brengel from its Board of Directors. Mr. Brengel was Chief Executive Officer of the company from 1967 to 1988, and had served as a Director since 1964. "Fred dedicated himself to Johnson Controls and our customers, and laid the foundation for the company we are today. It has been an honor to work with him. On behalf of Johnson Controls shareholders and employees, I would like to thank Fred for his 50 years of service to the company. His leadership and experience will be missed," Mr. Keyes stated. Johnson Controls announced the election of Natalie A. Black as a new Director. Ms. Black is Group President and General Counsel of Kohler Company, Kohler, Wis. She joined Kohler Company in 1981. Johnson Controls, Inc. is a global market leader in automotive systems and facility management and control. In the automotive market, it is a major supplier of seating and interior systems, and batteries. For nonresidential facilities, Johnson Controls provides building control systems and services, energy management and integrated facility management. Johnson Controls, founded in 1885, has headquarters in Milwaukee, Wis. Its sales for 1998 totaled $12.6 billion.