L3 Technologies boosts dividend by 6.3%
L3 Technologies Inc. LLL, +0.54% said Tuesday it raised its quarterly dividend by 6.3% to 85 cents a share from 80 cents a share. The provider of communication and electronic systems to the government said its new dividend will be payable March 15 to shareholders of record on March 1. Based on Monday’s stock closing price, the new annual dividend rate implies a dividend yield of 1.65%, compared with the implied yield for the SPDR Industrial Select Sector ETF XLI, +1.01% of 1.89% and for the S&P 500 SPX, +0.91% of 2.08%, according to FactSet. L3’s stock has rallied 9.0% over the past three months, while the industrial ETF has gained 3.5% and the S&P 500 has slipped 0.6%.
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