L-3 Increases Quarterly Dividend

Published on Tuesday, 07 February 2012 18:06 Written by TradersHuddle Staff

L-3 Communications (NYSE: LLL) announced today that its board of directors has increased its regular quarterly cash dividend 11 percent from $0.45 to $0.50 per share. The board has also declared the next dividend payable on March 15, 2012 to shareholders of record at the close of business on March 1, 2012.

“Our continued emphasis on program execution, operational efficiency and disciplined cash deployment has enabled us to return this value to shareholders,” said Michael T. Strianese, L-3’s chairman, president and chief executive officer. “Delivering value is our long-standing strategy, and we are pleased to increase the yield and affirm our outlook for L-3’s continued solid performance in this challenging environment.”

Mr. Strianese also noted this action represents L-3’s eighth consecutive annual dividend increase.

Headquartered in New York City, L-3 employs approximately 61,000 people worldwide and is a prime contractor in C³ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The company reported 2011 sales of $15.2 billion.

To learn more about L-3, please visit the company’s website at www.L-3com.com. L-3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company’s website and is readily accessible.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.