LLL raises dividend payout by 11%
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NEW YORK--(BUSINESS WIRE)-- L-3 Communications (NYSE: LLL - News) announced today that its board of directors has increased its regular quarterly cash dividend 11 percent from $0.45 to $0.50 per share. The board has also declared the next dividend payable on March 15, 2012 to shareholders of record at the close of business on March 1, 2012.
“Our continued emphasis on program execution, operational efficiency and disciplined cash deployment has enabled us to return this value to shareholders,” said Michael T. Strianese, L-3’s chairman, president and chief executive officer. “Delivering value is our long-standing strategy, and we are pleased to increase the yield and affirm our outlook for L-3’s continued solid performance in this challenging environment.”
Mr. Strianese also noted this action represents L-3’s eighth consecutive annual dividend increase.
Headquartered in New York City, L-3 employs approximately 61,000 people worldwide and is a prime contractor in C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The company reported 2011 sales of $15.2 billion.
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