L-3 Communications (LLL) Announces New $1.5B Stock Buyback Plan, Declares $0.75 Quarterly Dividend

L-3 Communications (NYSE: LLL) announced today that its Board of Directors has authorized a new share repurchase program that allows the company to repurchase up to an additional $1.5 billion of the company’s common stock. This new authorization is effective July 1, 2017, and represents L3’s eighth repurchase program.

The company also declared a quarterly dividend of $0.75 per share, or $3 annualized. The dividend will be payable on June 15, 2017, to stockholders of record on May 19, 2017, with an ex-dividend date of May 17, 2017. The annual yield on the dividend is 1.8 percent.

“We are pleased that L3’s strong operational performance, robust balance sheet and cash flow allow us to deliver value to shareholders through this new share repurchase program and our quarterly dividend. Concurrently, we are also investing in growth and technology initiatives to further strengthen our leading positions in the core markets we serve,” said Michael T. Strianese, L3’s Chairman and Chief Executive Officer. “Together, these actions reflect our continued confidence in the long-term outlook for our company and demonstrate our prudent allocation of capital to enhance shareholder value.”

For a dividend history and other dividend-related data on L-3 Communications (LLL) click here.

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