MELBOURNE, Fla.--(BUSINESS WIRE)--The Board of Directors of Harris Corporation (NYSE:HRS) has increased the quarterly cash dividend by 12 percent from 42 cents per share to 47 cents per share and declared a quarterly cash dividend of 47 cents per share, payable Sept. 23, 2014, to shareholders of record Sept. 9, 2014. The annualized cash dividend will increase from $1.68 per share to $1.88 per share. This action represents the company’s 13th consecutive annual dividend increase.
"The increased dividend reflects our continuing ability to generate strong free cash flow and our confidence in the company’s long-term outlook," said William M. Brown, chairman, president and chief executive officer. "We remain committed to driving value for shareholders while meeting the needs of our customers for high-quality, innovative and affordable solutions.”
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 125 countries. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and about 14,000 employees — including 6,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at harris.com.
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about our financial position and outlook are forward-looking and involve risks and uncertainties. Other factors that may impact the company's results and forward-looking statement may be disclosed in the company's filings with the SEC. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.