Lockheed Martin boosts dividend by 20 cents in Q4

Lockheed Martin Corp. (NYSE: LMT) recently announced that its board of directors has authorized a fourth-quarter 2020 dividend of $2.60 per share, up 20 cents from last quarter.

The dividend is payable on Dec. 24, to holders of record as of the close of business on Dec. 1.

At Lockheed’s current stock price, the dividend yields nearly 2.7 percent on an annual basis.

The corporation’s board has also authorized the purchase of up to an additional $1.3 billion of Lockheed Martin common stock under its share-repurchase program. With this increase, total authorization for future repurchases under the share-buyback program is about $3 billion. The number of shares purchased and the timing of them are at the discretion of management and subject to compliance with applicable law and regulation, the company said.

Lockheed Martin (NYSE: LMT) — a Bethesda, Maryland–based defense contractor — has two plants in Central New York, in Salina and in Owego — as part of the firm’s rotary and mission systems (RMS) business area. The plants employ about 4,100 people combined. 

The company has about 110,000 workers worldwide.