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Business/Financial

Tax Benefit Boosts ATK’s Earnings; Initiates First Quarterly Dividend

DDN

Friday, November 5th, 2010

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By Calvin Biesecker Alliant Techsystems [ATK] yesterday reported higher second quarter net income as a result of a favorable tax settlement, as sales and operating profits were flat. Based on its ability to continually generate strong cash flow, ATK announced its first quarterly cash dividend, 20 cents earnings per share (EPS), that will be payable next March. "Delivering long-term value to our shareholders is a top priority of the company," Mark DeYoung, ATK's president and CEO, said in a statement.…

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