MELBOURNE, Fla.--(BUSINESS WIRE)--The Board of Directors of Harris Corporation (NYSE:HRS) has increased the quarterly cash dividend by six percent from 50 cents per share to 53 cents per share and declared a quarterly cash dividend of 53 cents per share, 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 per share. This action represents the company's 15th consecutive annual dividend increase.
“Harris continues to generate strong free cash flow, supporting our commitment to provide shareholders with an attractive and growing dividend," said William M. Brown, chairman, president and chief executive officer. "We remain confident in our long-term outlook and in our ability to maximize shareholder value."
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 customers in more than 100 countries and has approximately $7.5 billion in annual revenue and 21,000 employees worldwide. The company is organized into four business segments: Communication Systems, Space and Intelligence Systems, Electronic Systems and Critical Networks. Learn more 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. The declaration of dividends and the amount thereof will depend on a number of factors, including our financial condition, capital requirements, cash flow, results of operations, future business prospects and other factors. There can be no assurances that our annualized cash dividend rate will continue to increase. 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.