Otis Announces 8 Percent Increase in Quarterly Dividend to $0.42 per Share

Core Viewpoint - Otis Worldwide Corporation has declared a quarterly dividend of $0.42 per share, marking an 8% increase, and this is the fifth consecutive year of dividend increases, reflecting the company's commitment to shareholder value through disciplined capital allocation [1][2]. Company Overview - Otis is the world's leading company in elevator and escalator manufacturing, installation, and service, moving 2.4 billion people daily and maintaining approximately 2.4 million customer units globally, which constitutes the largest service portfolio in the industry [2]. Financial Performance - The dividend has increased approximately 110% since the company's spin-off in 2020, supported by the strength of its service-driven business model [2].