Lockheed Martin approves Q4 dividend; share repurchase

A C-130J in flight

[Photo of C-130J courtesy of Lockheed Martin Corporation]

Aerospace giant Lockheed Martin Corporation declared a fourth quarter 2023 dividend of $3.15 per share.

It is payable on December 29 to shareholders of record as of the close of business day on December 1.

The company announced in its press release that this is the 21st consecutive year of dividend increases.

Advertisement

The Board of Directors for the corporation also authorized a stock buyback.

According to the press release:

“The company’s board has also authorized the purchase of up to an additional $6 billion of Lockheed Martin common stock under its share repurchase program, nearly doubling total authorization of the current program to $13 billion for future purchases.

“The number of shares purchased and the timing of purchases are at the discretion of management and subject to compliance with applicable laws and regulations.”

In other recent Lockheed Martin news, the first four of  Kingdom of Denmark’s permanently-based F-35A Lightning II aircraft were delivered to Skrydstrup Air Base, Denmark. 

And the U.S. Navy recently selected Lockheed Martin as its the agent for its Integrated Combat System (ICS) Systems Engineering and Software Integration (SESI). The company “will design integrated warfare system architecture and capabilities so that software updates can be delivered in real time across the Navy’s surface fleet of Aegis destroyers, cruisers, and frigates, plus carriers and amphibious ships.”

Lockheed Martin and Cobb County

The Lockheed Martin facility in Marietta has been a major employer in Cobb County since 1951, when the Lockheed Corporation, a predecessor of Lockheed Martin, took over the former site of the WWII Bell Bomber plant.

The C-130 program is the largest program operating at the Marietta facility. The plant currently produces the C-130J Super Hercules (see the company’s Fast Facts on the C-130J or the company’s C-30J brochure for more information).

The Marietta plant also provides ongoing support for the C-5 Galaxy, which celebrated its 50th year in operation in 2018. The C-5 Galaxy is expected to remain in service until 2045.

The Marietta location also supports the P-3 Orion, and manufactures the center wings for the F-35.

Advertisement