MELBOURNE, Fla.--(BUSINESS WIRE)--The Board of Directors of Harris Corporation (NYSE:HRS) has increased the quarterly cash dividend by eight percent from 53 cents per share to 57 cents per share and declared a quarterly cash dividend of 57 cents per share, payable September 22, 2017, to shareholders of record September 8, 2017. The annualized cash dividend correspondingly increases from $2.12 per share to $2.28 per share. The action represents the company’s 16th consecutive annual dividend increase.
"The increased dividend reflects confidence in our ability to generate strong cash flow and our commitment to drive value for our shareholders," said William M. Brown, chairman, president and chief executive officer. "We expect 2018 to be a growth year and remain confident in our long-term outlook."
About Harris Corporation
Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports government and commercial customers in more than 100 countries and has approximately $6 billion in annual revenue. The company is organized into three business segments: Communication Systems, Electronic Systems and Space and Intelligence Systems. Learn more at harris.com.
Forward-Looking Statements
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 the company’s financial position and outlook are forward-looking and involve risks and uncertainties. The declaration of dividends and the amount thereof will depend on a number of factors, including the company’s financial condition, capital requirements, cash flow, results of operations, future business prospects and other factors. There can be no assurances that the company’s annualized cash dividend rate will continue to increase. Other factors that may impact the company's results and forward-looking statements 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.
