Lockheed Martin (LMT) Raises Quarterly Dividend 10.3% to $1.82; Adds $2B to Stock Buyback Program

September 22, 2016 12:32 PM EDT

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Lockheed Martin (NYSE: LMT) declared a quarterly dividend of $1.82 per share, or $7.28 annualized. This is a 10.3% increase from the prior dividend of $1.65.

The dividend will be payable on December 30, 2016, to stockholders of record on December 1, 2016, with an ex-dividend date of November 29, 2016.

The annual yield on the dividend is 3 percent.

The company's board of directors has authorized the purchase of up to an additional $2.0 billion of Lockheed Martin common stock under its share repurchase program. With this increase, the total remaining authorization for future repurchases under the share repurchase program is approximately $4.3 billion. The number of shares purchased and the timing of purchases are at the discretion of management and subject to compliance with applicable law and regulation.

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