L3Harris (LHX) Increases Dividend 1.8%

The board of directors of L3Harris Technologies LHX authorized a 1.8% quarterly dividend rate increase. Shareholders of record at Mar 8's closure will receive a $1.16 quarterly dividend on Mar 22, 2024.

L3Harris has raised dividends for 23 years. Based on its February 27, 2024 share price of $211.74, the company's new yearly dividend rate is $4.64 per share, yielding 2.19%. The dividend yield exceeds the Zacks S&P 500 composite's 1.32%.

L3Harris' dividend history shows steady performance and ample cash flow to pay dividends. L3Harris had $560 million in cash and equivalents on December 29, 2023. The corporation generated $2.10 billion in operating cash in 2023.

Importantly, real investment returns allow a corporation to compensate its shareholders. L3Harris will maintain methodical investments to produce long-term cash flows. Company capital expenditure is expected to be 2% of sales.

L3Harris acquired Tactical Data Links and Aerojet Rocketdyne in 2023. This will boost the company's national security portfolio and long-cycle backlog. These purchases are projected to improve LHX's operational results, allowing the business to raise dividends regularly.

The corporation targets 35-40% of free cash flow payout. Strong profits and dividends boost its financial strength. Several aerospace-defense companies have continuous dividend payments, including LHX. Many players have comparable records.

The RTX Corporation RTX: RTX's quarterly dividend is 59 cents, up 7.3% from last year. Its yearly dividend is $2.36 per share. RTX pays 47% of profits. RTX's dividend yield is 2.61%, more than the Zacks S&P 500 composite's 1.32%. Over three to five years, the stock's profits growth is 10.2%.

Lockheed Martin Lockheed's quarterly dividend is $3.15, up 5% from last year. Its yearly dividend is $12.60 per share. LMT pays out 45% of profits. LMT's dividend yield is 2.93%, more than the Zacks S&P 500 composite's 1.32%. The stock's long-term EPS growth is 4.2%.

General Dynamics GD: General Dynamics' quarterly dividend is $1.32, up 4.8% from the prior year. It pays $5.28 per share in dividends annually. GD pays out 44% of profits. GD's dividend yield is 1.93%, more than the Zacks S&P 500 composite's 1.32%. Long-term profit growth is 10.8% for the stock.

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