Northrop Grumman Raises Dividend by 8 Percent

Aerospace company attributed its 20th consecutive annual dividend to disciplined capital management.

Northrop Grumman produced the B-2 Spirit bomber. [Credit: Shutterstock]

Northrop Grumman Corp. (NYSE: NOC) said its board of directors declared a quarterly dividend of $1.87 per share on the company’s common stock, marking an increase of 8 percent  over the previous dividend.

“Today (Tuesday) we announced an 8 percent increase to our quarterly dividend, marking our 20th consecutive annual increase,” said Kathy Warden, chair, CEO and president of Northrop Grumman. “We employ a disciplined, balanced approach to capital deployment, including providing a sustainable and growing dividend for our shareholders while also investing in our business to support our customers.”

Northrop Grumman is a global aerospace and defense technology company with 95,000 employees that is known for producing numerous aircraft, including the B-2 Spirit and related systems. The new dividend is payable June 14 to shareholders of record as of the close of business on May 30.

Jonathan Welsh is a private pilot who worked as a reporter, editor and columnist with the Wall Street Journal for 21 years, mostly covering the auto industry. His passion for aviation began in childhood with balsa-wood gliders his aunt would buy for him at the corner store. Follow Jonathan on Twitter @JonathanWelsh4

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