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Rockwell Collins raises quarterly dividend 33 percent to 12 cents per share;
CEDAR RAPIDS, Iowa (June 30, 2004) - The Board of Directors of Rockwell Collins (NYSE: COL) has approved an increase in the company’s quarterly dividend of 3 cents
per share, or 33 percent, to 12 cents per share on its common stock. The next dividend is payable September 7, 2004, to shareowners
of record at the close of business on August 12, 2004.
Additionally, the Rockwell Collins Board of Directors has authorized the company to purchase an additional $200 million of
Rockwell Collins common stock. With this announcement, the amount of share repurchases authorized by the company’s Board
of Directors since the inception of the share repurchase program in December 2001 now totals $600 million. As of June 30,
2004, the company has repurchased a total of 15.8 million shares for $390 million at an average price per share of $24.73.
“The increase in our quarterly dividend and the expansion of our share repurchase program reflect Rockwell Collins’ ongoing
commitment to improving shareowner value,” said Rockwell Collins Chairman, President and CEO Clay Jones. “The strength of
our balance sheet and our demonstrated ability to generate strong operating cash flow allow us to provide this additional
value to shareowners without impacting our ability to continue executing our long-term growth strategies.”
The timing and number of share repurchases will depend upon market conditions. The repurchases will be made in compliance
with, and at such times as permitted by, federal securities law and may be suspended or discontinued at any time.
Rockwell Collins is a leader in the design, production and support of communications and aviation electronics solutions for
government and commercial customers worldwide. Additional information is available at www.rockwellcollins.com.
This news release contains statements relating to future results that are "forward-looking" as defined in the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and
uncertainties including, but not limited to the consequence of any future terrorist attacks; the health of the global economy
as well as the commercial aerospace industry; domestic and foreign government spending, budgetary and trade policies; demand
for and market acceptance of new and existing products; performance of our products; potential cancellation of contracts,
delay of orders, or changes in procurement practices by our customers; customer bankruptcies; recruitment and retention of
qualified personnel; performance of our suppliers and subcontractors; our ability to execute to our internal performance plans
as well as our acquisition, strategic and integration plans; the uncertainties of the outcome of litigation; and those detailed
from time to time in the company's Securities and Exchange Commission filings. The forward-looking statements are made only
as of the date hereof and the company assumes no obligation to update any forward-looking statement.
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