Northrop Grumman (NOC) Raises Quarterly Dividend 14.3% to $0.80; 2% Yield

May 20, 2015 7:02 AM EDT

Northrop Grumman (NYSE: NOC) declared a quarterly dividend of $0.80 per share, or $3.2 annualized. This is a 14.3% increase from the prior dividend of $0.70.

The dividend will be payable on June 17, 2015, to stockholders of record on June 1, 2015, with an ex-dividend date of May 28, 2015.

The annual yield on the dividend is 2 percent.

"We continue to execute a capital deployment strategy that calls for returning cash to shareholders through a competitive dividend and share repurchases. Today's 14 percent dividend increase supports that approach. We are on track to complete our 60 million share repurchase goal this year, market conditions permitting. Returning cash to shareholders continues to be a core element of our value creation strategy," said Wes Bush, chairman, chief executive officer and president.

For a dividend history and other dividend-related data on Northrop Grumman (NOC) click here.

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