NEW YORK--(BUSINESS WIRE)--L3 Technologies (NYSE:LLL) announced today that its Board of Directors has increased the company’s regular quarterly cash dividend from $0.70 to $0.75 per share. The Board has also declared the next dividend payable on March 15, 2017 to shareholders of record at the close of business on March 1, 2017.
“This is L3’s 13th consecutive annual dividend increase, reflecting the Board’s continued confidence in our financial position and outlook as we execute on our strategic growth initiatives,” said Michael T. Strianese, L3’s Chairman and Chief Executive Officer. “Our strong operational performance and free cash flow provide us with the flexibility to maintain a disciplined and opportunistic approach to capital deployment, and we will continue to focus on increasing shareholder value.”
Headquartered in New York City, L3 Technologies employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication and electronic systems and products used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The company reported 2016 sales of $10.5 billion.
To learn more about L3, please visit the company’s website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company’s website and is readily accessible.
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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.