Highly profitable home-auto audio system maker Harman International Industries Inc. doubled its dividend and seated a Tyco International Ltd. finance officer to its board.
The maker of Harman-Kardon and JBL and stereo receivers and loudspeakers will pay 15 cents a share – up from 7 ½ cents — to common stockholders, effective with its fiscal first-quarter payment due in September.
Meantime, Harman appointed Tyco Chief Financial Officer Frank Sklarsky to its board. Sklarsky fills a vacancy until December, when he will stand for re-election.