Lockheed Martin‘s (NYSE: LMT) board of directors authorized two company financial moves on Sept. 21.
- a fourth quarter 2011 dividend of $1.00 per share, 33 percent greater than the prior quarter
- the purchase of up to an additional $2.5 billion of Lockheed Martin common stock under the share repurchase program
It is the ninth consecutive annual increase of at least 10 percent in Lockheed quarterly dividend rate. The dividend is payable Dec. 30, 2011 to holders of record as of the close of business Dec. 1, 2011.
“Our focus on performance, affordability and delivering on our commitments for our customers has enabled us to generate this value for our shareholders, ” said Lockheed chairman and CEO Bob Stevens. “We continue to deliver on our long-standing goal to return at least 50 percent of free cash flow to them.”
