Lockheed Martin to pay Q4 dividend of $3.15 per share in late December

The Lockheed Martin Corp. (NYSE: LMT) board of directors has declared a fourth-quarter, 2023 dividend of $3.15 a share.

The dividend is payable on Dec. 29, to holders of record as of the close of business on Dec. 1, according to an Oct. 6 company news release. At Lockheed’s current stock price, the dividend yields about 2.9 percent on an annual basis. 

This marks the 21st straight year of dividend increases for the defense contractor.

Lockheed also announced that its board has authorized the purchase of up to an additional $6 billion of the company’s common stock under its share-repurchase program. That nearly doubled total authorization of the current stock-buyback program to $13 billion for future purchases. The number of shares bought and the timing of purchases are at the discretion of Lockheed management and subject to compliance with applicable laws and regulations, the release stated.

Lockheed Martin — a Bethesda, Maryland–based global security and aerospace company — has two plants in Central New York, in Salina and in Owego, respectively. The firm has about 116,000 workers worldwide, primarily engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services.