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Semiconductor industry

Harris Corporation Increases Quarterly Dividend by 9.7 Percent

Strategic Insights

— 1 min read

Harris Corporation, a leader in providing technology to the government and private sectors, has announced a significant increase in its quarterly dividend. This move reflects the company's confidence in its financial performance and its commitment to enhancing shareholder value. The dividend increase, from 31 cents to 34 cents per share, represents a 9.7 percent hike and brings the annual rate to $1.36 per share, compared to the previous rate of $1.24. This latest move marks the third dividend increase in the past three years.

Key Takeaways:

  • Harris Corporation's quarterly dividend has been increased by 9.7 percent, from 31 cents to 34 cents per share.
  • The annual dividend rate has been increased to $1.36 per share, up from $1.24.
  • This is the third dividend increase in the past three years, reflecting the company's financial strength.
  • The first dividend at the higher rate will be payable on September 15 to shareholders of record on September 6.
  • Harris Corporation has maintained an unbroken record of dividend payments for the past 51 years.
  • The company's focus on four major businesses: electronic systems, communications, semiconductors, and Lanier Worldwide office equipment, is driving its growth and financial performance.
  • Harris Corporation has experienced a record year in fiscal 1995, and the company is optimistic about fiscal 1996, with continuing strength in incoming orders and opportunities for margin improvements.

Statistics:

  • The quarterly dividend increase is 9.7 percent, from 31 cents to 34 cents per share.
  • The annual dividend rate has been increased to $1.36 per share, representing a 10 percent increase from the previous rate of $1.24.
  • Harris Corporation's annual sales exceed $3.4 billion, making it a significant player in the high-tech industry.
  • The company has maintained an unbroken record of dividend payments for 51 years.
  • Fiscal 1995 was a record year for Harris Corporation, with continued strength in incoming orders expected in fiscal 1996.

Sources:

  • PR Newswire
  • Harris Corporation (HRS)

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