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  • Wednesday, April 24, 2024

Lockheed to Increase Share Repurchases by up to $1B; Bob Stevens Comments

Lockheed Martin Corp.’s (NYSE: LMT) board of directors has approved an interim increase of up to $1 billion to the company’s share repurchase program, which was initiated in October 2010.

The company said the board will likely consider a new share repurchase program this fall.

“We believe this additional share repurchase authorization is an effective way to deliver value back to our shareholders and is consistent with our commitment to return at least 50 percent of annual free cash to stockholders, ” said Bob Stevens, Lockheed Martin chairman and CEO.

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