For several years now, Raytheon Technologies (RTX) has been consistently increasing its quarterly dividends to shareholders. This trend is likely to continue as oil prices rise and the company generates significant cash flow.

As of Q4 2015, RTX had been paying a rate of 21 cents per quarter, which translates to an annualized yield of 1.3% at $24.43 per share. However, this progression suggests that the company could increase its dividend payout in the future. With oil prices on the rise, it is likely that RTX will announce a hike in its next dividend announcement, set for late April.

Historically, RTX has been increasing its quarterly dividends by 1 cent per quarter, which means shareholders can expect another boost to their earnings. The company's expected earnings growth and higher dividend payout make it a compelling investment opportunity. Moreover, the recent buyback announcement further supports this notion.

RTX stock currently trades at a forward price-to-earnings multiple of 20.24 times this year's earnings and 17 times next year's earnings. This works out to an annualized yield of $2.18 per share, giving RTX stock a dividend yield of 2.2% at today's price of $98.86.

The company has been paying cash dividends on its common stock every year since 1936, indicating that it is likely to announce another dividend increase later this month. The next dividend announcement is expected to be made around April 25, and shareholders can expect the company to continue its trend of raising dividends by around 3-4 cents or about 7% per quarter.

Overall, RTX's consistent track record of increasing dividends makes it an attractive investment option for those seeking a steady income stream.

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