Lockheed Martin (LMT) Increases Dividend to $2.80/sh; Announces Up to $5B Share Buyback

September 23, 2021 4:30 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

As part of the company's capital allocation strategy, the Lockheed Martin Corporation (NYSE: LMT) board of directors has authorized an increase in its quarterly dividend and share repurchase authority. The board declared a fourth quarter 2021 dividend of $2.80 per share, representing an increase of $0.20 per share over last quarter. The dividend is payable on Dec. 27, 2021, to holders of record as of the close of business on Dec. 1, 2021.

Additionally, the company's board has authorized the purchase of up to an additional $5 billion of Lockheed Martin common stock under its share repurchase program. With this increase, total authorization for future repurchases under the share repurchase program is approximately $6 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.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Dividend Hike, Dividends, Stock Buybacks

Related Entities

Twitter, Dividend, Stock Buyback