(http://www.itbuzzed.com/) HARTFORD, Conn. - United Technologies Corp. on Wednesday boosted its quarterly dividend by 20.3 percent, signaling its confidence in rising earnings.The board of directors of the conglomerate that makes jet engines, elevators,  and heating and ventilating equipment raised its quarterly dividend to 38.5 cents per share from a prior payout of 32 cents per share.

This dividend increase, consistent with our pattern over many years, reflects our confidence in sustained growth," said Louis Chenevert, president and chief executive.

The dividend is payable Dec. 10 to shareowners of record as of Nov. 14.United Technologies (nyse: UTX - news - people ) is due to release its third-quarter earnings Oct. 16. Analysts surveyed by Thomson Reuters expect earnings per share, on average, to be $1.33 on revenue of $15.15 billion.

Shares of United Technologies rose $1.33, or 2.9 percent, to $51.58 in late-afternoon trading.Copyright 2008 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed