Harris Corporation Increases Quarterly Dividend 36 Percent; Represents Sixth Consecutive Annual Increase in Quarterly Dividend
The Board of Directors of Harris Corporation (NYSE:HRS), an international communications and information technology company, has increased the quarterly cash dividend to 15 cents per share, compared to the previous quarterly dividend of 11 cents per share. This dividend is payable September 17, 2007, to shareholders of record September 6, 2007. The increase brings the annual dividend rate from 44 cents per share to 60 cents per share.
“We are delighted to announce this sixth consecutive annual increase in our quarterly dividend,” said Howard L. Lance, Harris chairman, president, and CEO. “We reported excellent results for fiscal year 2007, which ended June 29, 2007. Revenue was a record $4.2 billion, and orders were ahead of revenue, creating continued positive momentum in the current year for both our government and commercial segments. This dividend increase, along with the $600 million share repurchase program announced in May 2007, further demonstrates the company’s ongoing commitment to increasing shareholder value.”
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