On May 20, Northrop Grumman Corporation (NYSE:NOC) declared that it is increasing its quarterly dividend by 12.1% to $2.31 per share.
Northrop Grumman Corporation is an American multinational aerospace and defense company. It engages in various operations, including the design and production of both manned and unmanned aircraft, weapons, missile systems, sensors, and naval technologies. The company also holds a prominent position in space-related projects and national security efforts.
The latest quarterly dividend boost marked Northrop Grumman Corporation’s 22nd straight year of dividend increases, putting it just three years away from qualifying as a Dividend Aristocrat. Demonstrating its ongoing commitment to shareholders, the company returned nearly $800 million through dividends and stock buybacks. It also reiterated its free cash flow outlook for 2025.
The stock recorded a dividend yield of 1.73% on May 20, and it will trade ex-dividend on June 2.
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