Harris Corp. Increases Dividend 13.5%

IT company Harris Corp. (NYSE: HRS  ) today announced plans to increase its quarterly cash dividend. The new payout is 13.5% higher than the company's most recent quarterly payment, at $0.42 per share versus the prior $0.37.

The amount will be made payable on Sept. 24 to shareholders of record as of Sept. 10. The company has paid a dividend since 1948.

Annualized, Harris' dividend adds up to $1.68 per share of common stock. As of the market's close on Aug. 23, the company was trading at $56.97, which means its dividend currently yields 3%.

Additionally, the company's Board of Directors has approved an additional share repurchase authorization of $1 billion. Harris currently has $62 million left in buyback authorization from a previous authorization and plans to repurchase up to $200 million in shares in fiscal 2014. Since the beginning of 2013, Harris Corporation has seen its price per share rise from $48.96 unadjusted close on Dec. 31, 2012, to $56.55 adjusted close on Aug. 22, 2013, which is a 15% increase.



Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2610186, ~/Articles/ArticleHandler.aspx, 9/25/2016 10:34:00 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:01 PM
HRS $90.88 Up +0.07 +0.08%
Harris CAPS Rating: ****