General Dynamics [GD] yesterday said its board of directors has authorized the repurchase of an additional 10 million shares of the company’s stock.
Earlier this year, GD’s board authorized the repurchase of 10 million shares of stock. At the end of March, the company had repurchased 3.1 million of its outstanding shares.
Stock repurchases are one of three means GD uses to deploy capital, with acquisitions and dividends the other two. The company earlier this year also boosted its annual dividend.