STAMFORD, CT – Harman International Industries, Incorporated (NYSE:HAR) today announced that its board of directors declared a cash dividend of $0.025 per share for the quarter ended December 31, 2010.
The quarterly dividend will be paid on March 14, 2011, to each stockholder of record as of the close of business on February 28, 2011. “We are pleased that our strong balance sheet and cash position permit us to both finance our inorganic and organic growth plans and reinstate our dividend at a rate of $0.10 per share per year -- twice the rate previously paid by HARMAN,” said Dinesh C. Paliwal, the Company’s Chairman, President and CEO.
HARMAN (www.harman.com) designs, manufactures and markets a wide range of audio and infotainment solutions for the automotive, consumer and professional markets – supported by 15 leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon® and Mark Levinson®. The Company is admired by audiophiles across multiple generations and supports leading professional entertainers and the venues where they perform. More than 20 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. HARMAN has a workforce of about 11,000 people across the Americas, Europe and Asia, and reported sales of $3.5 billion for the twelve months ended December 31, 2010. The Company’s shares are traded on the New York Stock Exchange under the symbol NYSE:HAR.