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Feb. 26, 2021, 2:15 p.m. EST

L3Harris raises dividend by 20%, to push implied yield to over 2.2%

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By Tomi Kilgore

L3Harris Technologies Inc. /zigman2/quotes/201997607/composite LHX +0.76% declared Friday a quarterly dividend of $1.02 a share, which marks a 20% increase from the previous quarterly dividend of 85 cents a share. The aerospace and defense company's new dividend will be payable March 26 to shareholders of record on March 12. The stock fell 2.2% to $182.87 in afternoon trading. Based on the current stock price, the new annual dividend rate implies a dividend yield of 2.23%, compared with the yield for the SPDR Industrial Select Sector ETF /zigman2/quotes/202026558/composite XLI +1.06% of 1.51% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.59% of 1.51%, according to FactSet. L3Harris's stock has dropped 13.1% over the past 12 months, while the industrial ETF has gained 17.6% and the S&P 500 has advanced 22.7%.

/zigman2/quotes/201997607/composite
US : U.S.: NYSE
$ 211.80
+1.60 +0.76%
Volume: 490,775
April 21, 2021 1:12p
P/E Ratio
40.86
Dividend Yield
1.93%
Market Cap
$43.21 billion
Rev. per Employee
$379,042
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/zigman2/quotes/202026558/composite
US : U.S.: NYSE Arca
$ 100.67
+1.06 +1.06%
Volume: 7.30M
April 21, 2021 1:12p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,159.51
+24.57 +0.59%
Volume: 1.05B
April 21, 2021 1:12p
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