Harris Keeps Its Payout Streak Alive

Lucky 13 -- that's how many years in a row Harris, an international provider of communications and information technology, has enhanced its dividend. Last Monday, the Melbourne, FL, company, whose corporate roots trace back to the 1890s, raised its quarterly common payout 12%, to 47 cents a share from 42 cents, for a 2.7% yield. The hike is worth an additional $21 million to investors annually. Harris has been distributing dividends without interruption since 1941. CEO William Brown said the increase reflects their continuing ability to generate strong free cash flow and their confidence in the company's long-term outlook. From a 52-week high of $79.32 on the New York Stock Exchange on May 27, Harris was recently quoted at $70 and change.