United Technologies Corp Plans to Spinoff Otis Elevator and Carrier Heating and Cooling

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Earlier this month, United Technologies Corp. (NYSE: UTX) announced that its board of directors had agreed to spinoff Carriers and Otis. With immediate effect, the company’s board of directors declared a prorate dividend of Carrier Global corporation with the ticker NYSE: CARR and Otis Worldwide Corporation (NYSE: OTIS) common stock to take effect on April 3, 2020, at precisely 12:01 am EDT. Each shareholder with UTC common stock held on the record date will receive these new shares.The shareholders of UTC will each receive a share of Carrier common stock and half a share of Otis common stock. It was…
Source: United Technologies Corp Plans to Spinoff Otis Elevator and Carrier Heating and Cooling

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