Orbital ATK’s Board of Directors Approves 15 Percent Increase to Quarterly Dividend
February 04 2016 - 8:30AM
Business Wire
-- Dividend Increased to $0.30 Per Share, Up
from $0.26 Per Share --
Orbital ATK, Inc. (NYSE: OA), a global leader in aerospace and
defense technologies, today announced that its Board of Directors
has declared a 15 percent increase in its quarterly cash dividend
to $0.30 per share, up from $0.26 per share. The dividend will be
payable March 24, 2016 to stockholders of record as of March 7,
2016.
“‘We are very pleased that the Board of Directors has approved a
15 percent increase to the company’s quarterly dividend,” said
Chief Financial Officer Garrett E. Pierce. “We are committed to
returning value to our shareholders as part of our capital
allocation policy that emphasizes quarterly dividend payments and
the share buyback plan that was previously increased to $250
million and has been approved by the Board through the end of
2016.”
About Orbital ATK
Orbital ATK is a global leader in aerospace and defense
technologies. The company designs, builds and delivers space,
defense and aviation systems for customers around the world, both
as a prime contractor and merchant supplier. Its main products
include launch vehicles and related propulsion systems; missile
products, subsystems and defense electronics; precision weapons,
armament systems and ammunition; satellites and associated space
components and services; and advanced aerospace structures.
Headquartered in Dulles, Virginia, Orbital ATK employs
approximately 12,000 people in 18 states across the U.S. and in
several international locations. For more information, visit
www.orbitalatk.com.
“Safe Harbor” Statement Under the Private Securities
Litigation Reform Act of 1995
Certain information discussed in this press release constitutes
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995, including expectations for share
repurchases, dividends and debt repayment. Forward-looking
information is subject to certain risks, trends and uncertainties
that could cause actual results to differ materially from those
projected. Among those factors are decisions related to capital
deployment which may be impacted by the company’s performance and
the market price for the company’s common stock among other
factors; the potential inability to achieve expected synergies and
operating efficiencies; the potential inability to maintain and
grow customer relationships; reductions or changes in U.S.
Government military or NASA spending; timing of payments and
budgetary policies; changes in cost and revenue estimates and/or
timing of programs; the potential termination of U.S. Government
contracts and the potential inability to recover termination costs;
costs of servicing debt, including cash requirements and interest
rate fluctuations; potential customer loss and business disruption;
potential difficulties in retaining key employees; and the costs
and ultimate outcome of litigation matters and other legal
proceedings. Orbital ATK undertakes no obligation to update any
forward-looking statements. For further information on factors that
could impact Orbital ATK, and statements contained herein, please
refer to the company’s most recent Annual Report on Form 10-K and
any subsequent quarterly reports on Form 10-Q and current reports
on Form 8-K filed with the U.S. Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20160204005336/en/
Media and Investor Contact:Orbital ATKBarron Beneski,
703-406-5528Public and Investor
Relationsbarron.beneski@orbitalatk.com
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