Northrop to Spend Another $4B on Stock Buyback Plan

northrop Grumman_BLUEThe board of directors at Northrop Grumman (NYSE:NOC) has approved a plan to repurchase as much as $4 billion of common shares.

Northrop said Wednesday it will buy back stock from time to time, depending on market conditions and subject to authorization from the management team.

The company can transact via privately negotiated purchases or through the open market.

According to the Wall Street Journal, Northrop seeks to repurchase 60 million shares by the end of this calendar year and has bought back 54.3 million shares as of June 30.

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