L-3 Communications [LLL] on Tuesday said it will be increasing its quarterly stock dividend by 20 cents to 30 cents per share, a move that is in line with its emphasis for the past year of deploying more cash either to bolster its stock price or to directly reward shareholders.
“The strength of L-3’s cash flow gives us the flexibility to pay a higher dividend while continuing to invest in the growth of our company through internal initiatives and acquisitions,” Michael Strianese, president and CEO, said in a statement. “This increase in our quarterly dividend reiterates our board’s confidence in L-3’s financial performance and our commitment to increasing value for our shareholders through both dividends and share repurchases.”‘