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David Thompson: Orbital ATK’s $150M Buyback Plan Gets Board Approval

David Thompson
David Thompson

Orbital ATK‘s (NYSE: OA) board of directors has approved a plan to buy back an additional $150 million of the company’s common stock through the end of 2016.

The company said Monday it may repurchase shares in the open market depending on factors such as market condition and that transactions will be subject to financial covenants and regulations.

“The board continues to be strongly supportive of a balanced approach to capital allocation that includes dividends, share repurchases and required debt repayment, ” said Orbital ATK President and CEO David Thompson.

Additionally, the board declared a $0.26-per-share quarterly cash dividend, which the company will disburse on Dec. 10 to shareholders of record as at the close of business Nov. 18.

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