Harris Corporation (HRS), together with its subsidiaries, operates as an international communications and information technology company that serves government and commercial markets worldwide. The company operates in three segments; RF Communications, Integrated Network Solutions, and Government Communications Systems. The company is a member of the dividend aristocrats’ index, has paid dividends since 1941 and increased them for 11 years in a row.
The company’s last dividend increase was in August 2012 when the Board of Directors approved a 12.10% increase to 37 cents/share. This was the second dividend increase in under one year. The company’s largest competitors include Boeing (BA), Raytheon (RTN) and General Dynamics (GD).
Over the past decade this dividend growth stock has delivered an annualized total return of 11.70% to its shareholders.
dividend payment has increased by 26.60% per year over the past decade, which is higher than the growth in EPS.
is attractively valued at 9.80 times earnings, has an adequately covered dividend and yields 3.10%. I would consider initiating a position in the stock subject to availability of funds.
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