L-3 Communications Declares Regular Quarterly Dividend Of $0.70 A Share

L-3 Communications LLL revealed that its board has declared its regular quarterly cash dividend of $0.70 per share. According to the company, the dividend would be payable on June 15 to its eligible shareholders. The company fixed the record of May 17, 2016 to determine the shareholder's name.

L-3 Communications said that the latest dividend provided a yield of 2.10 percent, which was lower than the five-year average dividend yield of 2.2 percent. The current dividend payout ratio also worked out 204 percent. The average dividend payout ratio for the five-year period was only 61 percent.

The company has been paying a dividend since 2004 and has been involved in lifting the dividend rate for the eleven straight years. The company's five-year average dividend growth rate was 9.95 percent while it was 8.94 percent for the three-year period.

Shares of the company traded 0.37 percent higher on Tuesday.