Orbital ATK (OA) Declares $0.26 Quarterly Dividend; 1.2% Yield; Expands Stock Buyback Plan

Orbital ATK (NYSE: OA) declared a quarterly dividend of $0.26 per share, or $1.04 annualized.

The dividend will be payable on December 10, 2015, to stockholders of record on November 18, 2015, with an ex-dividend date of November 16, 2015.

The annual yield on the dividend is 1.2 percent.

Orbital ATK’s Board also authorized an expansion of the company’s stock repurchase program, increasing the aggregate amount of common stock that may be purchased under the program from the lesser of $100 million or 1.4 million shares to the lesser of $250 million or 3.25 million shares through calendar year 2016. As previously announced, shares of common stock may be purchased from time to time in the open market, subject to compliance with applicable laws and regulations and the company’s debt covenants and other agreements, depending upon market conditions and other factors.

“We are very pleased to announce that the Board has approved an expansion of our capital allocation program through the end of 2016, with its authorization for an additional $150 million in share buybacks,” said David W. Thompson, Orbital ATK’s President and Chief Executive Officer. “The Board continues to be strongly supportive of a balanced approach to capital allocation that includes dividends, share repurchases and required debt repayment, along with investments in research and development and capital equipment to provide avenues for organic growth.”

For a dividend history and other dividend-related data on Orbital ATK (OA) click here.

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