L3 Increases Quarterly Dividend
February 13 2017 - 02:05PM
Business Wire
L3 Technologies (NYSE:LLL) announced today that its Board of
Directors has increased the company’s regular quarterly cash
dividend from $0.70 to $0.75 per share. The Board has also declared
the next dividend payable on March 15, 2017 to shareholders of
record at the close of business on March 1, 2017.
“This is L3’s 13th consecutive annual dividend increase,
reflecting the Board’s continued confidence in our financial
position and outlook as we execute on our strategic growth
initiatives,” said Michael T. Strianese, L3’s Chairman and Chief
Executive Officer. “Our strong operational performance and free
cash flow provide us with the flexibility to maintain a disciplined
and opportunistic approach to capital deployment, and we will
continue to focus on increasing shareholder value.”
Headquartered in New York City, L3 Technologies employs
approximately 38,000 people worldwide and is a leading provider of
a broad range of communication and electronic systems and products
used on military, homeland security and commercial platforms. L3 is
also a prime contractor in aerospace systems, security and
detection systems, and pilot training. The company reported 2016
sales of $10.5 billion.
To learn more about L3, please visit the company’s website at
www.L3T.com. L3 uses its website as a channel of distribution of
material company information. Financial and other material
information regarding L3 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.
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