STAMFORD, CT -- HARMAN International Industries, Incorporated (NYSE:HAR), the premier audio, infotainment and software services company, 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 by six percent to $1.40 per share, to be paid quarterly at the rate of $0.35 per share as compared with the prior quarterly rate of $0.33 per share. The increased dividend will go into effect for the new fiscal year, which starts July 1, 2015, and the first quarterly payment will be in September 2015.
"Through our ongoing investments in innovation and addition of strong connected services capabilities, we continue to demonstrate HARMAN’s commitment to technology leadership and building long term value for our stakeholders," said Dinesh C. Paliwal, the Company's Chairman, President and Chief Executive Officer. “We are pleased to return additional capital to our shareholders as we continue to execute our business strategy and deliver solid performance.”
HARMAN has delivered 70 percent CAGR annual dividend increases since FY2011.
HARMAN (harman.com) designs and engineers connected products and solutions for consumers, automakers, and enterprises worldwide, including audio, visual and infotainment systems; enterprise automation solutions; and software services. With leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon® , Mark Levinson ® and Revel®, HARMAN is admired by audiophiles, musicians and the entertainment venues where they perform around the world. HARMAN also is a technology and integration services leader for the Automotive, Mobile, Telecommunications and Enterprise markets. More than 25 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. The Company's software solutions power billions of mobile devices and systems that are connected, integrated, personalized, adaptive and secure across all platforms, from the work and home to car and mobile. HARMAN has a workforce of approximately 25,000 people across the Americas, Europe, and Asia and reported sales of $5.9 billion during the last 12 months ended March 31, 2015. The Company's shares are traded on the New York Stock Exchange under the symbol NYSE:HAR.