Lockheed Martin raises dividend by nearly 8%, buybacks by $5 billion

Lockheed Martin Corp. LMT, +0.72% said precocious Thursday its committee raised its dividend and its authorization to bargain backmost stock. The aerospace institution said its fourth-quarter dividend of $2.80 a stock represents a 7.6% summation and is payable Dec. 27 to shareholders arsenic of Dec.1. The committee besides authorized an further $5 cardinal of stock buyback power, raising the company’s full authorization to $6 billion. Lockheed Martin shares were up 0.5% aft hours, pursuing a 0.7% emergence successful the regular league to $344.20. Shares person fallen 10% implicit the past 12 months, compared with a 37% summation connected the S&P 500 scale SPX, +1.21%.