Harris Corp Raises Dividend 18%

Good news from Harris Corp. ($HRS). The company raised its quarterly dividend from 28 cents per share to 33 cents per share. The company also said that it’s raising its payout ratio target from 20% to 25%.

The annual dividend rate is $1.32 per share. Going by Friday’s close, the stock now yields 3.09%. Using the company’s target rate of 25%, $1.32 per share implies total earnings of $5.33. Wall Street currently expects Harris to earn $5.35 per share for the fiscal year ending in June 2013. The stock is currently going for eight times that.

Posted by on February 27th, 2012 at 10:22 am

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