L-3 Increases Quarterly Dividend
NEW YORK--(BUSINESS WIRE)--Feb. 5, 2008--L-3 Communications (NYSE: LLL) announced today that its board of directors has increased its regular quarterly cash dividend by 20 percent from $0.25 per share to $0.30 per share. The board has also declared the dividend of $0.30 per share payable on March 17, 2008 to shareholders of record at the close of business on February 19, 2008.
"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," said Michael T. Strianese, president and chief executive officer of L-3. "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."
Headquartered in New York City, L-3 Communications employs over 64,000 people worldwide and is a prime contractor in aircraft modernization and maintenance, C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems and government services. L-3 is also a leading provider of high technology products, subsystems and systems. The company reported 2007 sales of $14 billion.
To learn more about L-3, please visit the company's web site at www.L-3Com.com.
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," "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.
CONTACT: L-3 Communications Corporate Communications 212-697-1111 or FD Investors: Eric Boyriven, Alexandra Tramont Media: Evan Goetz 212-850-5600 SOURCE: L-3 Communications