Increase in HRS Dividend 2013

Harris Corporation (HRS) has just authorized an increase in its quarterly cash dividend by 13.5% from $0.37 per share to $0.42. It has also approved a new $1B share repurchase.

My anticipated annual dividends has increased from $71.56 to $81.23 on this news. I will also continue reinvesting each set of quarterly dividends so expect this amount to go up slightly each quarter. While just under $10 increase per year may not seem like much, that’s extra money that I received without doing any extra work. Pretty nice if you ask me. It will be awesome to see the effect of these increases on my portfolio 10-20 years from now!

This also raises my estimated annual dividend above $1500.

Full disclosure: Long HRS