Harris Corporation Increases Quarterly Dividend 18 Percent to 33 Cents Per Share
28 February 2012 - 12:00AM
Business Wire
The Board of Directors of Harris Corporation (NYSE:HRS), an
international communications and information technology company,
has increased the quarterly cash dividend from 28 cents per share
to 33 cents per share and declared a quarterly cash dividend of 33
cents per share, payable March 16, 2012, to shareholders of record
March 7, 2012. The annualized cash dividend will increase from
$1.12 per share to $1.32 per share.
“Increasing the dividend by 18 percent and the target payout
ratio from 20 to 25 percent reflects our company’s financial
strength and continuing ability to generate strong cash flow,” said
William M. Brown, president and chief executive officer. “This
increase in our dividend also demonstrates our commitment to
rewarding shareholders.”
About Harris Corporation
Harris is an international communications and information
technology company serving government and commercial markets in
more than 150 countries. Headquartered in Melbourne, Florida, the
company has approximately $6 billion of annual revenue and about
17,000 employees — including nearly 7,000 engineers and scientists.
Harris is dedicated to developing best-in-class assured
communications® products, systems, and services. Additional
information about Harris Corporation is available at
www.harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that
reflect management's current expectations, assumptions and
estimates of future performance and economic conditions. Such
statements are made in reliance upon the safe harbor provisions of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The company cautions investors
that any forward-looking statements are subject to risks and
uncertainties that may cause actual results and future trends to
differ materially from those matters expressed in or implied by
such forward-looking statements. Statements about the company’s
financial strength, ability to generate strong cash flow, payout
ratio and outlook are forward-looking and involve risks and
uncertainties. Other factors that may impact the company's results
and forward-looking statements may be disclosed in the company's
filings with the SEC. Harris disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
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