General Dynamics Board OKs Plan to Repurchase 10M Shares

general dynamics logoThe board of directors at General Dynamics (NYSE: GD) has approved a plan to buy back up to 10 million additional shares of company stock in the open market,  according to a press statement released Wednesday.

The company repurchased about 7.15 million outstanding shares during the third quarter of 2015 and has bought back 19.28 million outstanding shares since the year’s start.

General Dynamics’ board has also declared a 69-cent-per-share quarterly dividend, which the company said it will pay on Feb. 5, 2016 to stockholders of record as of Jan. 15.

Shares in General Dynamics closed at $145.35 Wednesday and the company has approximately $49.95 billion in market capitalization as of Wednesday’s close with 316.1 million shares outstanding.

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