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Business/Financial

Lockheed Martin Boosts Share Repurchase Authority By $1 Billion

Defense Daily Staff

Wednesday, August 24th, 2011

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Lockheed Martin [LMT] yesterday said it has approved an interim increase of up to $1 billion in its stock buyback program, which is expected to reach its current $3 billion limit before the next scheduled review of repurchase activity. The current $3 billion share repurchase was established in Oct. 2010 and through the second quarter of 2011 the company has repurchased 27.7 million shares for $2.1 billion, a Lockheed Martin spokeswoman told Defense Daily. The next review of repurchase activity…

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