Does Tyco International pay a dividend on common stock?
Since the spin-off of Tyco Electronics and Covidien in June 2007, Tyco has consistently paid dividends – the quarterly dividend was $0.15 per share following the spin-off until our Board of Directors increased it to $0.20 per share in the fourth quarter of fiscal 2008. In March 2009, we completed our move to Switzerland. Under Swiss law, shareholders have the right to approve any dividends proposed by our Board of Directors. As a result, in March 2009, our shareholders approved an annual dividend that, at the time, was the Swiss franc equivalent of $0.80 per share. This amount was paid out in quarterly distributions over the ensuing four quarters. At the annual meeting in March 2010, shareholders approved an increase in the annual dividend to the Swiss franc equivalent of $0.84 per share. This amount will also be paid out in the ensuing four quarter period. It is important to note that, at least until January 1, 2011, we intend to make dividends in the form of capital reductions, which
