You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Ingersoll-Rand to spin off security business

LONDON — The industrial conglomerate Ingersoll-Rand said it will spin off its security technology business and buy back $2 billion of its shares.

The company, based in Ireland, also said Monday that it is raising its quarterly dividend by 31 percent, to 21 cents per share.

Continue reading below

The manufacturer, which makes heating and cooling systems, said the spinoff of its commercial and residential security­ businesses into a new public company will be completed within the next year.

Chief executive Michael Lamach­ said the move would allow both companies to enhance­ their value by allocating capital and deploying resources in a more focused way.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of