L-3 Communications Will Raise Dividend for 7th Straight Year
L-3 Communications (LLL: 124.59 +2.22%) announced today that the company is increasing their quarterly dividend by 13% to $.45 per share.
The $.05 per share dividend increase is similar to last year’s dividend hike and will raise the current dividend yield on L-3 stock to 2.3%.
This marks the seventh consecutive year that L-3 Communications has increased their dividend.
Shares in L-3 Communications have climbed over 14% since the beginning of the year and are outpacing the 5% gain in the S&P 500 index.
The increased dividend is payable on March 15, 2011 to shareholders of record as of March 1, 2011.