L3Harris Technologies hikes dividend by 9.5%
L3Harris (LHX), formerly Harris Corporation (HRS), will raise its quarterly dividend by 9.5 percent to $0.75 per share in 2019. Today L3Harris Technologies announced the successful completion of the all-stock merger between Harris Corporation and L3 Technologies on June 29, 2019. L3Harris also announced a new $4 billion share repurchase authorization.
Last year Harris Corp hiked its dividend by 20.2 percent to 68.5 cents per share, marking 17 consecutive years of annual dividend increases by the defense company. A new annualized rate of $3.00 per share yields 1.7% at a stock price of $178.15.
“L3Harris expects to return more than $3 billion to shareholders over the next year through dividends and share repurchases, demonstrating our commitment to return cash to shareholders,” said William M. Brown, Chairman and Chief Executive Officer. “This reflects confidence in our newly combined company’s financial outlook and ability to generate robust and growing free cash flow while continuing to invest in developing innovative and affordable solutions for our customers.”
L3Harris Technologies is a global aerospace and defense technology company. L3Harris provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. The company's four business segments are: Integrated Mission Systems, Space and Airborne Systems, Communication Systems and Aviation Systems. L3Harris Technologies was formed by the all-stock merger between Harris Corporation and L3 Technologies on June 29, 2019.
Last year Harris Corp hiked its dividend by 20.2 percent to 68.5 cents per share, marking 17 consecutive years of annual dividend increases by the defense company. A new annualized rate of $3.00 per share yields 1.7% at a stock price of $178.15.
“L3Harris expects to return more than $3 billion to shareholders over the next year through dividends and share repurchases, demonstrating our commitment to return cash to shareholders,” said William M. Brown, Chairman and Chief Executive Officer. “This reflects confidence in our newly combined company’s financial outlook and ability to generate robust and growing free cash flow while continuing to invest in developing innovative and affordable solutions for our customers.”
L3Harris Technologies is a global aerospace and defense technology company. L3Harris provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. The company's four business segments are: Integrated Mission Systems, Space and Airborne Systems, Communication Systems and Aviation Systems. L3Harris Technologies was formed by the all-stock merger between Harris Corporation and L3 Technologies on June 29, 2019.
