Harris declares USD0.42 dividend, approves buyback program

The board of directors of Harris Corp. (NYSE: HRS) said it has increased the quarterly cash dividend rate by 13.5 percent from USD0.37 per share to USD0.42 per share and declared a dividend of USD0.42 per share payable September 24, 2013 to shareholders of record September 10, 2013.

The annualized cash dividend rate is now USD1.68 per share.

In addition, the board approved a new USD1bn share repurchase authorization. This new program is in addition to the existing program, which has an unused authorization of approximately USD62m. The company expects to repurchase up to USD200m in shares in fiscal 2014.

Harris is an international communications and information technology company serving government and commercial markets in more than 125 countries. Headquartered in Melbourne, Florida, the company has approximately USD5bn of annual revenue and about 14,000 employees. Additional information about Harris Corp. is available at harris.com.

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