Lockheed Martin Increases Quarterly Dividend And Share Repurchase Authority

Rhea-AI Summary

Lockheed Martin Corporation (NYSE: LMT) announced an increase in its quarterly dividend by $0.20 to $2.80 per share, set for payment on December 27, 2021. The board also authorized an additional $5 billion in share repurchases, bringing the total authorization to approximately $6 billion. This move reflects the company's robust capital allocation strategy aimed at enhancing shareholder value.

Positive

• Quarterly dividend increased to $2.80 per share, enhancing shareholder returns.
• Total share repurchase authorization raised to approximately $6 billion, indicating strong financial health and commitment to returning value to shareholders.

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• None.

BETHESDA, Md., Sept. 23, 2021 /PRNewswire/ -- As part of the company's capital allocation strategy, the Lockheed Martin Corporation (NYSE: LMT) board of directors has authorized an increase in its quarterly dividend and share repurchase authority. The board declared a fourth quarter 2021 dividend of $2.80 per share, representing an increase of $0.20 per share over last quarter. The dividend is payable on Dec. 27, 2021, to holders of record as of the close of business on Dec. 1, 2021.

Additionally, the company's board has authorized the purchase of up to an additional $5 billion of Lockheed Martin common stock under its share repurchase program. With this increase, total authorization for future repurchases under the share repurchase program is approximately $6 billion. The number of shares purchased and the timing of purchases are at the discretion of management and subject to compliance with applicable law and regulation.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit our website: www.lockheedmartin.com.

Please follow @LMNews on Twitter for the latest announcements and news across the corporation.

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SOURCE Lockheed Martin

FAQ

What is the new dividend amount for Lockheed Martin (LMT)?

Lockheed Martin has increased its quarterly dividend to $2.80 per share.

When will the new dividend for LMT be paid?

The new dividend will be paid on December 27, 2021.

What is the total share repurchase authority for Lockheed Martin?

The total share repurchase authority has been raised to approximately $6 billion.

Why did Lockheed Martin increase its dividend and share repurchase program?

The increase reflects Lockheed Martin's strong capital allocation strategy aimed at enhancing shareholder value.