The board of directors for Fortive Corp. (NYSE: FTV) declared a regular quarterly cash dividend of $0.07 per share of its common stock, par value $0.01 per share, payable on June 24 to common stockholders of record on May 27.

“Although Fortive expects to pay dividends on a quarterly basis, any subsequent declaration of dividends, including the amount, the record dates and the payment dates for any such future dividend payments, is subject to the discretion of the Board of Directors,” the Everett, Washington-based company said in its announcement.

In February, the board authorized a share repurchase program that will allow the company to purchase up to 20 million shares of its common stock.