Northrop Grumman (NYSE: NOC) declared a quarterly dividend of $1.20 per share, or $4.8 annualized. This is a 9.1% increase from the prior dividend of $1.10.

The dividend will be payable on June 20, 2018, to stockholders of record on June 4, 2018, with an ex-dividend date of June 1, 2018.

The annual yield on the dividend is 1.5 percent.

“Our balanced capital deployment strategy continues to call for returning cash to our shareholders through dividends and share repurchases. Today’s dividend increase, in addition to January’s off-cycle increase, demonstrates our commitment to that strategy,” said Wes Bush, chairman and chief executive officer.

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