Harris Boosts Payout
The Board of Directors of technology solutions provider Harris Corporation (NYSE: HRS – $92.59) has increased the quarterly cash dividend by six percent from $0.50 per share to $0.53. The new payout will be payable September 21, 2016, to shareholders of record September 9, 2016. The annualized cash dividend correspondingly increases from $2.00 per share to $2.12 and will yield investors 2.3%, at current levels. This action represents the company’s 15th consecutive annual dividend increase. In the statement, CEO William M. Brown said: “Harris continues to generate strong free cash flow, supporting our commitment to provide shareholders with an attractive and growing dividend and we remain confident in our long-term outlook and ability to maximize shareholder value”. HRS has performed well over the past 52-weeks with a gain of nearly 20% and the shares, trading at a new all-time high, can be maintained in a well-diversified aggressive portfolio.