NEW YORK--(BUSINESS WIRE)--L-3 Communications (NYSE:LLL) announced today that its board of directors has increased the company’s regular quarterly cash dividend eight percent from $0.60 to $0.65 per share. The board has also declared the next dividend payable on March 16, 2015 to shareholders of record at the close of business on March 2, 2015.
“We are pleased to continue delivering value to shareholders by increasing L-3’s dividend for the 11th consecutive year,” said Michael T. Strianese, L-3’s chairman, president and chief executive officer. “This action demonstrates the board’s confidence in the company’s performance and our balanced cash deployment approach. Overall, our capital allocation strategy remains a priority, which also includes ongoing investment in our business, selective acquisitions and dispositions, share repurchases and maintaining our investment-grade credit rating.”
Headquartered in New York City, L-3 employs approximately 45,000 people worldwide and is a prime contractor in aerospace systems and national security solutions. L-3 is also a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. The company reported 2014 sales of $12.1 billion.
To learn more about L-3, please visit the company’s website at www.L-3com.com. L-3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company’s website and is readily accessible.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.