L3Harris Board Approves $3B Stock Repurchase, $1.12 Dividend

L3Harris Technologies‘ (NYSE: LHX) board of directors has approved a plan to repurchase another $3.0 billion of its common stock.

The Melbourne, Florida-based defense technology supplier said Friday the additional stock re-acquisition will bring total buyback authorization for L3Harris to approximately $4.5 billion.

Stockholders of record as of Nov. 18 will receive a quarterly cash dividend of $1.12 per share on Dec. 2, according to the company.

Earlier this month, L3Harris announced it will acquire the tactical data link product line under the government systems segment of Viasat (Nasdaq: VSAT) and both parties expect to close the $1.96 billion transaction in the first half of 2023.

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