Harris Corporation Increases Quarterly Dividend 33 Percent to 20 Cents Per Share
August 25 2008 - 9:20AM
PR Newswire (US)
MELBOURNE, Fla., Aug. 25 /PRNewswire-FirstCall/ -- The Board of
Directors of Harris Corporation (NYSE:HRS), an international
communications and information technology company, has increased
the quarterly cash dividend to 20 cents per share, compared to the
previous quarterly dividend of 15 cents per share. This dividend is
payable September 17, 2008, to shareholders of record September 4,
2008. The annual dividend rate will increase from 60 cents per
share to 80 cents per share, consistent with the company's
long-term target of sustained dividend payouts in the range of 20
percent of net income. "We are very pleased to announce this
substantial annual increase in our quarterly dividend," said Howard
L. Lance, chairman, president, and CEO. "We reported excellent
financial results for fiscal year 2008, with strong earnings and
cash flow. Our track record of improving financial performance over
the past five years has allowed Harris to provide consistent annual
dividend increases. New orders and a robust pipeline of
opportunities in the markets we serve are giving us confidence that
fiscal 2009 will be another year of strong financial performance.
This dividend increase further demonstrates the company's ongoing
commitment to increasing shareholder value." About Harris
Corporation Harris is an international communications and
information technology company serving government and commercial
markets in more than 150 countries. Headquartered in Melbourne,
Florida, the company has annual revenue of more than $5.3 billion
and 16,000 employees - including nearly 7,000 engineers and
scientists. Harris is dedicated to developing best-in-class assured
communications(R); products, systems, and services. Additional
information about Harris Corporation is available at
http://www.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 our outlook are
forward-looking and involve risks and uncertainties. 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. DATASOURCE: Harris Corporation
CONTACT: Investor Relations, Pamela Padgett, +1-321-727-9383, , or
Media, Jim Burke, +1-321-727-9131, , both of Harris Corporation Web
site: http://www.harris.com/
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