Lockheed Martin’s Q1 dividend is $3.15 per share

A C-130J in flight

Photo provided by Lockheed Martin

Lockheed Martin issued the following statement in a news release announcing their first-quarter dividend:

The Lockheed Martin Corporation (NYSE: LMT) board of directors has authorized a first quarter 2024 dividend of $3.15 per share. The dividend is payable on March 29, 2024, to holders of record as of the close of business on March 1, 2024.

Of interest to Cobb County and Georgia residents, the company also released its earnings statement for 2023 and for the 4th Quarter of 2023.

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The aeronautics division, which is in charge of building aircraft, including the Marietta-built C-130J series, reported a slight rise in net sales in 2023, from $26,987 million in 2022 to $27,474 million in 2023. For the 4th quarter, though, there was a slight drop in sales, from  $7,635 million in 2022, to $7,613 million in 2023.

Operating profit for the aeronautics division dropped in both 2023 and the 4th Quarter of 2023.

Here’s the table for the aeronautics division (all figures in millions except for the operating margin):

 Quarters Ended Dec. 31, Years Ended Dec. 31, 
  2023 2022 2023 2022
Net sales $7,613.00 $7,635.00 $27,474.00 $26,987
Operating profit $761.00 $816.00 $2,825.00 $2,867.00
Operating margin 10 percent 10.7 percent 10.3 percent 10.6 percent

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.

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