Ingersoll-Rand confirms a plan to spin off its commercial and residential security businesses....

|By:, SA News Editor

Ingersoll-Rand confirms a plan to spin off its commercial and residential security businesses. The company expects the spin-off (aimed to be tax-free) to be completed within a year. Earlier, Ingersoll-Rand also launched a new $2B share repurchase program and boosted its quarterly dividend by 48% to $0.31 a share. IR +1.9% premarket.