Lockheed Martin Boosts Buyback, Dividend

(RTTNews) - Defense contractor Lockheed Martin Corp. (LMT) said Thursday that its board of directors has authorized the purchase of up to an additional $2.0 billion of the company's common stock under its share repurchase program.

The company also said that its board has authorized a fourth quarter dividend of $1.50 per share, representing a $0.17, or 13%, increase over last quarter. The dividend is payable on December 26 to holders of record on December 1.

"We continue to generate excellent value for our shareholders and are proud to deliver the 12th consecutive annual double-digit increase of the Lockheed Martin quarterly dividend rate," said Marillyn Hewson, Lockheed Martin Chairman, President and CEO.