Huntington Ingalls Industries Awards 208 Scholarships for the 2021-2022 School Year Through Annual Scholarship Fund

Rhea-AI Summary

Huntington Ingalls Industries (NYSE: HII) has awarded 100 new scholarships and renewed 108 scholarships through its HII Scholarship Fund for the 2021-2022 academic year, totaling over $2 million since its inception. The scholarships benefit dependent children of HII employees pursuing post-secondary education or quality pre-kindergarten programs. Award amounts range from $1,500 to $3,000, and the fund reflects HII's commitment to workforce development. Notably, CEO Mike Petters continues to decline most of his salary to support the initiative.

Positive

• Awarded 100 new scholarships and renewed 108 scholarships, benefitting a total of 980 scholarships.
• Total funding of over $2 million for educational support.
• CEO Mike Petters continues to contribute to the scholarship fund by declining most of his salary.

Negative

• None.

NEWPORT NEWS, Va., Sept. 14, 2021 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE: HII) announced today that the HII Scholarship Fund, now in its sixth year, has awarded 100 new scholarships for the 2021-2022 school year. Additionally, the fund renewed 108 previously active scholarships. To date, 980 scholarships have been awarded or renewed for a total of more than $2 million.

The HII Scholarship Fund was formed to provide financial assistance to qualified and selected dependent children of HII employees who are pursuing a post-secondary college or technical/vocation degree and to dependent children who are enrolled in quality pre-kindergarten school readiness programs. For the sixth consecutive year, HII President and CEO Mike Petters declined all but $1 of his annual salary to fund the program that has helped provide educational opportunities to 550 children of employees across the HII enterprise.

“Each class of recipients over the past six years has had its own unique characteristics, and one of the most inspiring things to see this year has been the determination of young scholars across our country in continuing their education against all the hurdles and obstacles brought on by the pandemic,” Petters said. “I’m proud of the accomplishments all the HII scholarship recipients have made, and I look forward to seeing how each of them will shape their futures and those of their communities.”

Of the scholarships awarded, 30 were granted to students in four-year education programs, 19 were granted to students in two-year technical/vocation programs, and 51 were granted to students in early childhood school readiness programs.

Individual award amounts range from $1,500 for selected students enrolled in a two-year college program to $3,000 for selected students enrolled in a four-year program; 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. Guidelines and applications for the 2022 program will be available in early next year.

The annual fund is a result of HII’s commitment to workforce development and ongoing efforts to invest in the future generations of workers through education. Through the years, HII has made numerous investments in STEM 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.

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.

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division supports national security missions around the globe with unmanned systems, defense and federal solutions, and nuclear and environmental services. Headquartered in Newport News, Virginia, HII employs about 44,000 people operating both domestically and internationally. For more information, visit:

• HII on the web: www.huntingtoningalls.com
• HII on Facebook: www.facebook.com/HuntingtonIngallsIndustries
• HII on Twitter: twitter.com/hiindustries
• HII on YouTube: www.youtube.com/huntingtoningalls
• HII on Instagram: www.instagram.com/huntingtoningalls
  

Contact:

Beci Brenton
(202) 264-7143
Beci.Brenton@hii-co.com