L3Harris Technologies (LHX) to Raise Dividend 20%, Approves $6B Buyback Plan

January 28, 2021 4:32 PM EST

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The Board of Directors of L3Harris Technologies (NYSE: LHX) has approved a 20 percent increase in the company’s quarterly cash dividend rate from 85 cents per share to $1.02 per share, commencing with the dividend to be declared for the first quarter of 2021. The L3Harris Board also approved a new $6 billion share repurchase authorization.

“We’ve now raised the dividend nearly 50 percent since the merger as it has become an increasingly important part of value-creation for shareholders. Combined with our expanded share repurchase authorization, our capital returns profile remains industry leading,” said William M. Brown, Chairman and Chief Executive Officer. “These actions reflect the strength of the combined company, confidence in our medium-term outlook, and an ability to generate solid free cash flow while investing for growth.”

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