L-3 Communications (NYSE:LLL) announced today that its board of directors has increased the company’s regular quarterly cash dividend nine percent from $0.55 to $0.60 per share. The board has also declared the next dividend payable on March 17, 2014 to shareholders of record at the close of business on March 3, 2014. This action represents L-3’s tenth consecutive annual dividend increase.
“L-3 is committed to a balanced program of returning cash to shareholders, and we are pleased that the company’s strong financial position enables us to increase the yield of our dividend,” said Michael T. Strianese, L-3’s chairman, president and chief executive officer. “We remain focused on delivering shareholder value through a prudent capital allocation strategy that includes cash dividends, a stock repurchase program and making niche acquisitions that enhance and expand our existing business base.”
Headquartered in New York City, L-3 employs approximately 48,000 people worldwide and is a prime contractor in C 3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, platform and logistics solutions, and national security solutions. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The company reported 2013 sales of $12.6 billion.
To learn more about L-3, please visit the company’s website at www.L-3com.com. L-3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company’s website and is readily accessible.Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.