GD Chairman and CEO Phebe Novakovic. Photo: GD
General Dynamics [GD] on Wednesday said its board has approved an increase in the company’s annual stock dividend, marking the 18th consecutive year GD has boosted its dividend.
The regular quarterly dividend will rise by 7 cents per share, or 11.3 percent, to 69 cents per share and be payable on May 8.
GD expects weaker free cash flow this year than in 2014 when it recorded $3.2 billion, but Phebe Novakovic, the company’s chairman and CEO, said in January that it would use cash on its balance sheet to help with share repurchases and dividend payments.