Harris Corporation Increases Quarterly Dividend 10 Percent to 22 Cents Per Share

MELBOURNE, Fla., Aug. 28 /PRNewswire-FirstCall/ -- The Board of Directors of Harris Corporation (NYSE: HRS - News), an international communications and information technology company, has increased the quarterly cash dividend to 22 cents per share, compared to the previous quarterly dividend of 20 cents per share. This dividend is payable September 18, 2009, to shareholders of record September 9, 2009. The annual dividend rate will increase from 80 cents per share to 88 cents per share.
"We are very pleased to announce this increase in our quarterly dividend," said Howard L. Lance, chairman, president, and CEO. "Harris achieved excellent financial performance in fiscal 2009, with strong revenue, earnings, and cash flow. As we reported August 12, 2009, new contract wins, improving order rates, and a solid pipeline of additional opportunities provide us with increased confidence in our outlook for fiscal 2010. This dividend increase further demonstrates the company's ongoing commitment to increasing shareholder value."
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and more than 15,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at www.harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about our outlook are forward-looking and involve risks and uncertainties. Other factors that may impact the company's results and forward-looking statement may be disclosed in the company's filings with the SEC. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.