(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