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Northrop Grumman Adds $4 Billion To Stock Repurchase Program

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A day after announcing it would increase its quarterly dividend payment by 11 percent, Northrop Grumman [NOC] yesterday said it would add $4 billion to its share repurchase authorization. The company said the additional authorization brings the total planned share buyback to $5 billion, with the goal being to retire 25 percent of its outstanding shares by the end of 2015. On Wednesday Northrop Grumman boosted its quarterly dividend six cents to 61 cents per share effective June 12 (Defense…

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