L3Harris Technologies (LHX) will raise its quarterly dividend by 20.0 percent to $1.02 per share in 2021. This follows a dividend hike of 13.3 percent to $0.85 per share announced in 2020 by the company. This marks 20 consecutive years of dividend increases.

The next dividend is payable March 26, 2021, to shareholders of record on the close of business on March 12, 2021. A new annualized rate of $4.08 per share yields 1.9% at a stock price of $210.76.

L3Harris Technologies is a global aerospace and defense technology company. L3Harris provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. The company's four business segments are: Integrated Mission Systems, Space and Airborne Systems, Communication Systems and Aviation Systems. L3Harris Technologies was formed by the all-stock merger between Harris Corporation and L3 Technologies on June 29, 2019.