Northrop Grumman Raises Dividend

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Los Angeles-based defense contractor Northrop Grumman Corp. said that its board of directors has approved a 15 percent increase of the common stock quarterly dividend to 30 cents per share from 26 cents.


The cash dividend will be payable June 10 to shareholders of record as of the close of business May 30. The board also declared a regular dividend of $1.75 per share on the company’s Series B convertible preferred stock, payable July 17 to shareholders of record as of the close of business July 6.


“This marks our third double-digit dividend increase in as many years, demonstrating our board’s continued confidence in the performance of our business,” said Chief Executive Ronald D. Sugar.

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