Both CARRier and OTIS showed up in the April brokerage statement I got a few days ago. Letters dated April 3 said I would get one share of Carrier for each of my UTX shares and 1/2 share of OTIS for each UTX share. Previously I got a fairly large amount of cash too.
Spinoffs can be annoying, especially the ATT ones from the 1980s Bell breakup. But they can be quite profitable if held long-term. Studies have shown that spinoffs often outperform the S&P and the firms they were spun off from.
Both spinoffs are quite sizable: OTIS $22 billion market cap. Carrier is $16 billion. Both should pay dividends, but I don't believe the amounts have been announced quite yet.
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