Lockheed Martin Corporation (NYSE:LMT) announced today that it will raise its quarterly dividend to $1 and increase its share repurchase program by $2.5 billion. The company increased its dividend payout by 33% or .$0.25 from the previous quarter. Its current dividend yield is 4.10%.
For Lockheed, this increase represents its ninth consecutive annual increase of at least 10% in the company’s quarterly dividend rate. The dividend is payable to holders of record as the close of business on Dec.1, 2011 and payable on Dec. 30, 2011.
Other Aerospace and Defense stocks with attractive dividend yields: Boeing (NYSE:BA) 2.86%, Northrup Grumman Corp. (NYSE:NOC) 3.91%, Raytheon Company (NYSE:RTN) 4.42%, and General Dynamics (NYSE:GD) 3.37%.
Lockheed’s stock (NYSE:LMT) is up 0.67% to $73.14 on the news. Shares are up 4.62% year to date. The stock has traded in a 52-week range between $66.36 and $82.43.