STAMFORD, CT. -- HARMAN International Industries, Incorporated (NYSE:HAR), the leading global audio and infotainment group, today announced that its board of directors has adopted an annual cash dividend policy pursuant to which the Company will increase its annual cash dividend to $1.32 per share, to be paid quarterly at the rate of $0.33 per share. The higher rate represents a 10 percent increase over the prior quarterly rate of $0.30 per share. The increased dividend will go into effect for the new fiscal year, which starts July 1, 2014, and the first quarterly payment will be in September 2014.
"Through our recent strategic acquisitions and ongoing investment in innovation, we continue to demonstrate HARMAN’s commitment to building long term value," said Dinesh C. Paliwal, the Company's Chairman, President and Chief Executive Officer. “We are pleased to be able to return additional capital to our shareholders as we continue to achieve strong performance and execute our strategy for growth.”
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 25 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. HARMAN has a workforce of 15,200 people across the Americas, Europe, and Asia and reported sales of $5.1 billion for the last twelve months ended March 31, 2014. The Company’s shares are traded on the New York Stock Exchange under the symbol NYSE:HAR.