Lockheed Martin [LMT] yesterday said it is increasing its quarterly dividend and stock buyback program as part of its effort to return value to its shareholders.
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The company said its fourth quarter dividend will be raised to 18 cents, or 16 percent, to $1.33 per share. The dividend increase is the 11th consecutive annual double-digit increase by the company of its quarterly rate.
The share repurchase program was increased by $3 billion. The number of shares to be bought and the timing of purchases are at the discretion of management. The repurchase program does not have an expiration date.