Aug. 27--Harris Corp. has landed a $27.3 million addition to an existing contract to perform advanced communications work for the Air Force Space and Missile Center in California, the company has confirmed.
The Melbourne-based electronics and communications company was awarded the deal on Friday, according to the Department of Defense. The new deal brings the total value of the Harris program to more than $215 million.
The work is being performed by Harris Government Communications Systems in Palm Bay.
Terms of the addition call for Harris to retrofit the center's Space Control Depot Support Facility with advanced communication equipment, the DoD said. The Air Force Space and Missile Center is located at the Los Angeles Air Force Base in El Segundo. It performs on-orbit check-out, testing, sustainment and maintenance of military satellite constellations and other Department of Defense space systems.
In other action, Harris said Monday it has increased its quarterly cash dividend by 13.5 percent to 42 cents per share, payable on September 24, 2013 to shareholders of record Sept. 10, 2013. It is the company's 12th straight quarterly dividend increase.
Harris also said it approved a new $1 billion share repurchase initiative, which will include $62 million left from an earlier initiative. The company expects to repurchase up to $200 million in shares in fiscal 2014.
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