Comtech Telecommunications raises dividend target

The Comtech Telecommunications Corp. (NASDAQ: CMTL) board of directors said it has raised its annual target dividend from USD1.10 per share to USD1.20 per share and declared a quarterly cash dividend of USD0.30 per share, payable on February 19, 2014, to shareholders of record at the close of business on January 17, 2014.

The dividend is the company´s 14th consecutive quarterly dividend and represents an increase of 9.1% from the previous quarterly dividend paid on November 19, 2013.

The board of directors also authorized an increase to its existing stock repurchase program from USD50.0m to USD100.0m.

Comtech Telecommunications designs, develops, produces and markets innovative products, systems and services for advanced communications solutions.

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