By Kimberly Chin 
 

Lockheed Martin Corp. raised its quarterly dividend and expanded its stock-buyback program with an additional authorization.

The Bethesda, Md., company's new dividend is $2.80 a share, up from its previous dividend of $2.60 a share.

The dividend will be payable on Dec. 27 to shareholders of record as of Dec. 1.

The security and aerospace company's board has also authorized an additional $5 billion in share repurchases under its existing program. This brings its total authorization to nearly $6 billion, the company said.

Lockheed's shares rose 1.1% after hours to $348.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

September 23, 2021 17:09 ET (21:09 GMT)

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