S&P: Tyco unaffected

Standard & Poor's said its ratings and outlook on Tyco International Ltd. (BBB/postive/A-2) would not be affected by the company's announcement that it intends to increase its annual dividend to about $900 million, (40 cents per share) from $100 million.

The increase in dividends was largely anticipated, and S&P said it considers Tyco's new dividend policy as consistent, if not modestly conservative, compared to those of peer global diversified industrial manufacturers.

S&P said it believes that the company has favorable near-term prospects and that free cash flow generation will remain robust.

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