HII Annual Scholarship Fund Providing Opportunity to Employees’ Children and Future Leaders

Rhea-AI Summary

HII (NYSE:HII) announced it has awarded 190 scholarships totaling over $3 million to dependent children of its employees for the 2022-2023 academic year. Over the course of this program, which spans seven years, HII has provided 1,170 scholarships benefiting more than 600 children. The scholarships support various educational pursuits, with amounts ranging from $1,500 for two-year programs to $3,000 for four-year college students. This initiative is part of HII's commitment to education and community support, reinforcing its dedication to employee families and national development.

Positive

• Awarded 190 scholarships totaling over $3 million.
• Since inception, provided 1,170 scholarships to over 600 children.
• Individual awards: $3,000 for four-year programs, $1,500 for two-year programs.
• Renewable post-secondary awards for students in good academic standing.

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• None.

NEWPORT NEWS, Va., Aug. 02, 2022 (GLOBE NEWSWIRE) -- All-domain defense and technologies partner HII (NYSE:HII) announced today that the company’s scholarship fund, now in its seventh year, has awarded 190 scholarships to dependent children of HII employees for the 2022-2023 school year. HII’s scholarship fund has awarded more than $3 million in 1,170 scholarships over the life of the program, providing educational opportunities to more than 600 children of employees across the HII enterprise.

“This program is an important reflection of who we are,” said Chris Kastner, HII’s president and CEO. “Through these scholarships we are supporting our employees and their families, with benefits long-term for our communities and ultimately the nation. I am committed to supporting this program and the educational opportunities it brings to students.”

The HII Scholarship Fund was formed to provide financial assistance to dependent children of HII employees who are pursuing a post-secondary college or technical/vocation degree and to dependent children who are enrolled in qualifying pre-kindergarten school readiness programs.

A photo accompanying this release is available at: https://hii.com/news/hii-scholarship-fund-2022.

Of the scholarships awarded, 30 were granted to students in four-year college education programs, 20 were granted to students in two-year degree or vocational programs, and 50 were granted to students in early childhood school-readiness programs.

Individual award amounts ranged from $3,000 for selected students enrolled in a four-year college program to $1,500 for selected students enrolled in two-year programs; the post-secondary awards are renewable for recipients who remain in good academic standing. The fund also awards scholarships of up to $3,000 for pre-school education costs.

Children of all HII employees are eligible to apply for the scholarship fund, with the exception of children of senior executives and those employees who have been with the company for less than two years.

The HII Scholarship Fund is administered through Scholarship America. The selection process for awards is independent of HII and based on both academic scholarship and financial need. No employee or officer of HII plays a part in the selection process.

To view testimonies from this year’s recipients, learn more about how to make a tax-deductible donation to the fund, or for more details on how to apply for 2023, please visit: https://hii.com/hii-scholarship-fund/.

Through the decades, HII has made numerous investments in education programs; partnerships with local high schools, community colleges and technical schools to develop trade-based curriculum; summer internships for both students and teachers, and industry-leading apprentice schools at the company’s two shipyards. Additionally this year, HII provided scholarships to Aerospace Industry Association’s 2022 American Rocketry Challenge graduating seniors and Wings of America Naval aviation families to help the aerospace and defense industry provide opportunities for the next generation of technology providers.

About HII

HII is an all-domain defense and technologies partner, recognized worldwide as America’s largest shipbuilder. With a 135-year history of trusted partnerships in advancing U.S. national security, HII delivers critical capabilities ranging from the most powerful and survivable naval ships ever built, to unmanned systems, ISR and AI/ML analytics. HII leads the industry in mission-driven solutions that support and enable an all-domain force. Headquartered in Virginia, HII’s skilled workforce is 44,000 strong. For more information, please visit:

• HII on the web: https://www.hii.com/
• HII on Facebook: https://www.facebook.com/TeamHII
• HII on Twitter: https://www.twitter.com/WeAreHII
• HII on Instagram: https://www.instagram.com/WeAreHII

Contact:

Danny Hernandez
Danny.j.hernandez@hii-co.com
(202) 580-9086

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ed013029-8564-43fe-8e16-49a053ed2ac3

FAQ

What is HII's scholarship fund for 2022?

HII's scholarship fund awarded 190 scholarships to dependent children of employees for the 2022-2023 academic year.

How much has HII awarded in scholarships since the program began?

HII has awarded over $3 million in 1,170 scholarships since the program's inception.

What are the eligibility criteria for HII scholarships?

Dependent children of HII employees are eligible, except for those of senior executives and employees with less than two years of service.

How are the scholarships awarded by HII?

The scholarships are administered by Scholarship America based on academic merit and financial need.

What is the range of scholarship amounts offered by HII?

Awards range from $1,500 for two-year degree programs to $3,000 for four-year college programs.