L3Harris Technologies Rewards Shareholders With 3.4% Dividend Hike

Group 1: Dividend Increase - L3Harris Technologies, Inc. announced a 3.4% increase in its quarterly dividend rate, raising it to $1.20 per share, payable on March 21, 2025 [1] - This increase marks the company's 24th consecutive annual dividend hike, resulting in a new annualized dividend rate of$4.80 per share and an annualized dividend yield of 2.33% based on a share price of $206.11 as of February 28, 2025 [2] Group 2: Defense Budget and Market Position - The U.S. defense budget significantly benefits L3Harris, with the Fiscal Year 2025 Defense Appropriations Act providing a total of$852.2 billion, including over $1 billion for classified Space Force requirements [3] - L3Harris has a strong international presence, with nearly 20% of its revenues coming from international markets, and continues to see high demand for its defense solutions from various regions including Asia-Pacific and Latin America [4] Group 3: Contract Wins and Future Prospects - In January 2025, L3Harris was awarded a contract by BAE Systems Maritime Australia to provide the Integrated Platform Management System for the Royal Australian Navy's Hunter class frigates, indicating growth potential in its ISR technologies [5] - The company's global presence and contract wins ensure strong revenue generation, supporting the sustainability of shareholder-friendly initiatives in the future [6] Group 4: Stock Performance - Over the past month, L3Harris shares have declined by 2.2%, while the industry has seen a smaller decline of 0.5% [8]