Northrop Grumman Announces New $2.5 Billion Share Repurchase Authorization

Rhea-AI Summary

Northrop Grumman Corporation (NOC) authorizes an additional $2.5 billion for stock repurchase, increasing the total to $3.8 billion. The company is a global leader in aerospace and defense technology, providing innovative solutions to connect and protect the world.

FALLS CHURCH, Va., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE: NOC) announced today that its board of directors has authorized an additional $2.5 billion for the repurchase of the company's common stock, increasing the outstanding authorized amount to approximately $3.8 billion. Share repurchases will take place from time to time, subject to market conditions and management's discretion, in the open market or in privately negotiated transactions.

Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers’ toughest problems, our employees define possible every day.

Note: Statements in this press release contain or may contain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “anticipate,” “intend,” “may,” “could,” “should,” “plan,” “project,” “forecast,” “believe,” “estimate,” “guidance,” “outlook,” “trends,” “goals” and similar expressions generally identify these forward-looking statements. These forward-looking statements speak only as of the date when made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements after the date of this release, except as required by applicable law. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. A discussion of these risks and uncertainties is contained in the Company’s filings with the Securities and Exchange Commission.

Contact:	Vic Beck (Media)
	703-280-4456 (office)
	vic.beck@ngc.com
	Todd Ernst (Investors)
	703-280-4535 (office)
	todd.ernst@ngc.com

FAQ

What is the latest announcement from Northrop Grumman Corporation (NOC)?

Northrop Grumman Corporation (NOC) has authorized an additional $2.5 billion for the repurchase of its common stock, increasing the outstanding authorized amount to approximately $3.8 billion.

What does Northrop Grumman Corporation (NOC) specialize in?

Northrop Grumman Corporation (NOC) is a leading global aerospace and defense technology company, providing pioneering solutions to equip customers with capabilities for connecting and protecting the world.

How will the share repurchases take place for Northrop Grumman Corporation (NOC)?

Share repurchases will occur from time to time, subject to market conditions and management's discretion, in the open market or in privately negotiated transactions.