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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest
event reported): August 25, 1997
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HARRIS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-3863 34-0276860
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(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation) Number) Identification No.)
1025 West NASA Blvd., Melbourne, Florida 32919
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (407) 727-9100
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No Change
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(Former name or former address, if changed since last report.)
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Items 1-4. Not Applicable.
Item 5. Other Events.
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On August 25, 1997, Harris Corporation (the "Company")
announced that its Board of Directors has declared a two-for-one stock split to
be effected by a 100% stock dividend. The dividend will be distributed on
September 26, 1997 to shareholders of record of the Company's Common Stock,
$1.00 par value ("Common Stock"), as of the close of business on September 4,
1997. The Board of Directors also voted to increase the annual Common Stock
pre-split indicated dividend rate from $1.52 to $1.76 per share. In line with
this action, the Board declared a quarterly dividend of $0.44 per share payable
on September 12, 1997 to holders of record on September 4, 1997. Following the
stock split, the annual indicated dividend rate on the Company's Common Stock
will be $0.88 per share. A copy of the press release issued by the Company,
dated August 25, 1997, announcing the stock split and the increase in the
dividend is filed as an exhibit hereto.
Item 6. Not Applicable.
Item 7. Financial Statements And Exhibits.
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(c) Exhibits.
99. Press Release of the Registrant, dated
August 25, 1997.
Items 8-9. Not Applicable.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
HARRIS CORPORATION
By: /s/ B. R. Roub
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Name: Bryan R. Roub
Title: Senior Vice President &
Chief Financial Officer
Date: August 25, 1997
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EXHIBIT INDEX
EXHIBIT NO.
UNDER REG. FORM 8-K
S-K, ITEM 601 EXHIBIT NO. DESCRIPTION
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99 1 Press Release of the Registrant,
dated August 25, 1997.
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NEWS
[HARRIS LOGO]
HARRIS CORPORATION DECLARES TWO-FOR-ONE STOCK SPLIT;
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INCREASES DIVIDEND 16 PERCENT
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MELBOURNE, Florida, August 25, 1997 -- The Board of Directors of Harris
Corporation has declared a two-for-one stock split and approved a 16 percent
increase in the company's dividend.
The stock split will be made in the form of a stock dividend, using
shares already authorized by previous shareholder action. The stock split will
apply to shareholders of record September 4, 1997, with stock split certificates
mailed to shareholders on or after September 26, 1997.
The dividend increase will raise the annual common stock dividend from
$1.52 to an indicated rate of $1.76 per share. In line with this action, the
Board declared a quarterly dividend of $.44 per share, which is payable on
September 12, 1997 to shareholders of record at the close of business on
September 4, 1997. Following the stock split, the indicated annual dividend rate
on the company's common stock will be $.88 per share.
The dividend increase represents the fifth such increase in the past
five years. The company has an unbroken record of dividend payments for more
than 50 years.
"The stock split and dividend increase reflect our goal of continuing
to enhance shareholder value," said Phillip W. Farmer, Harris chairman and CEO.
"The two-for-one stock split makes our market price more accessible to a larger
number of individual investors, which should expand the market for our stock."
(more)
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Fiscal 1997 was a record year for Harris -- representing the sixth
straight year of double-digit earnings growth. Last month, Harris reported
record performance for the year ended June 27, with orders, sales, net income,
and earnings per share all rising to new highs. The company reported earnings
per share for the year were up 15 percent to $5.27 versus $4.58 for the previous
year. Net income rose to $207.5 million compared with $178.4 million. Sales also
reached record levels, increasing to $3.8 billion.
Harris Corporation is an international communications and electronics
company that provides products and services in more than 150 countries. The
company uses its broad base of technologies to develop products and systems in
areas such as wireless and personal communications, digital television (HDTV),
health care information, multimedia communications, automotive electronics,
transportation, business information, defense communications and information,
Lanier office products, and others.
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Editor's Note: For further information, contact Jim Burke at 407-727-9126 or
[email protected]. Additional information on Harris is also available on the
Internet through our World Wide Web Address: http://www.harris.com/
