Northrop Board OKs Additional $3B Stock Buyback Plan

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Northrop Grumman (NYSE: NOC) will repurchase an additional $3 billion of its common stock following approval from the board of directors. The company said Thursday that further share repurchase transactions are subject to authorization from management as well as market conditions. The Wall Street Journal reported that Northrop plans to buy back 25 percent of its shares before the end of 2015. Tess...

Carlyle Group Reduces Booz Allen Ownership Stake to 37%

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An affiliate of The Carlyle Group (NASDAQ: CG) has sold 10 million shares of Booz Allen Hamilton‘s (NYSE: BAH) Class A common stock to J.P. Morgan Securities for $263.1 million, or around $26.31 per share. Booz Allen said Wednesday that these transactions would result in Carlyle owning 37 percent of Booz Allen’s outstanding stock. The firm added that it also plans to repurchase...

Marillyn Hewson: Lockheed Extends Dividend Increases as Repurchase Program Continues

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Marillyn Hewson Lockheed Martin (NYSE: LMT) will move forward on its share repurchase program after the board of directors approved to buy back an additional $2 billion of the company’s common stock. The company also said Thursday its dividend for its fiscal year 2014 fourth quarter will increase 13 percent from the previous quarter $1.50 and is payable on Dec. 26 to shareholders of record...

Jeffrey Tarr: DigitalGlobe to Repurchase Shares, Explore M&A

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Jeffrey Tarr Jeffrey Tarr, CEO of DigitalGlobe (NYSE: DGI), has outlined the company’s strategies to build shareholder value over time following the release of its financial results for the second fiscal quarter. Tarr said Thursday DigitalGlobe is looking into mergers and acquisitions as it executes a $75 million share repurchase plan within the next two years. For the quarter ended June...

URS Details 2-Year Repurchase, Dividend Plan; Thomas Hicks, Martin Koffel Comment

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URS Corp. (NYSE: URS) has told investors that it plans to return $500 million of its capital to stockholders by the end of fiscal year 2015. The company will carry out the plan via share repurchases and dividends as part of its capital allocation strategy over the next two years, URS said Thursday. Chief Financial Officer H. Thomas Hicks said the company has repurchased more than 10 percent of its...

L-3 Increases 9th Straight Quarterly Dividend, Buying Back $1.5B In Shares

L-3 Communications (NYSE: LLL) has increased its quarterly dividend for the ninth straight quarter as the board of directors declared a 55-cent dividend, 10 percent more than the previous 50-cent dividend. The company will also enter its sixth share repurchase program as the board has approved a plan to buy back $1.5 billion in common stock through June 15, 2013, L-3 said Wednesday. Cash on hand and...

Boeing to Restart $3B Share Buyback, Issues 10% Higher Dividend

Jim McNerney Boeing (NYSE: BA) announced Monday it will restart its $3.6 billion share repurchase program, with plans to buy back between $1.5 billion and $2.0 billion in stock during 2013. The company also announced a regular quarterly dividend of 48.5 cents per share, a 10 percent increase. Shareholders of record as of Feb. 15, 2013 will receive the dividend March 8. “As returns accelerate...

Exelis Plans $100M Share Repurchase Over Next 4 Years

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ITT Exelis‘ (NYSE: XLS) board of directors has approved a plan to repurchase up to $100 million of its common stock over the next four years, the company announced Wednesday. The company said the primary goal of the buyback initiative is to offset dilution from equity awards made by the company. Purchases can occur between Dec. 11, 2012 and Dec. 31, 2015 and the company said it will determine...

Harris Selling Broadcast Segment for $225M as Part of $200M Share Buyback; William Brown Comments

William Brown Harris Corp. (NYSE: HRS) has agreed to sell its broadcast communications segment to an affiliate of The Gores Group for $225 million, including $160 million at the expected close date in early calendar year 2013. Harris said the deal, subject to regulatory review and closing conditions, also includes a $15 million subordinated promissory note and a potential $50 million payout based...

Booz Allen Continues Mulling Cash Moves, Authorizes $30M Share Repurchase

The board of directors for Booz Allen Hamilton‘s (NYSE: BAH) parent company has authorized the company to tap its current cash holdings to repurchase $30 million in shares of its outstanding common stock. The purchases will be made in the open market, possibly in privately-negotiated transactions, the company announced Tuesday. “We continue to look at a number of options for use of our...