UPDATE: Harris Corporation Increases Quarterly Dividend 18% to 33 Cents Per Share
The Board of Directors of Harris Corporation (NYSE: HRS) 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.”
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