Harman International to double cash dividend

Wed Jun 27, 2012 4:39pm EDT

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(Reuters) - Car audio equipment maker Harman International Industries Inc (HAR.N) said it will double its annual cash dividend to 60 cents per share.

The company will pay a dividend of 15 cents per share quarterly, effective July 1. The first quarterly payment will be made in September 2012, Harman said in a statement.

Shares of the company, which owns brands such as Harman Kardon, JBL, AKG and Infinity, closed at $37.45 on the New York Stock Exchange on Wednesday.

(Reporting by Shubham Singhal in Bangalore; Editing by Supriya Kurane)