Northrop Grumman hikes dividend by 10.2%

Northrop Grumman (NOC) announced today that the Company's Board of Directors declared a cash dividend of $1.73 per common share payable June 15, 2022, to shareholders of record as of the close of business May 31, 2022.

“Northrop Grumman remains focused on deploying our capital in value-creating ways for our customers and investors,” said Kathy Warden, chair, chief executive officer and president. “We are investing in our business to support our growth and we continue to provide a competitive return of capital to shareholders. This includes today’s 10 percent increase to our dividend, which represents the 19th consecutive annual increase.”

This new dividend increase by NOC will mark 19 consecutive years of dividend increases by the defence and security company. A new annualized rate of $6.92 per share yields 1.5% at a stock price of $459.

Northrop Grumman is a security company providing innovative systems, products and solutions in autonomous systems, cyber, C4ISR, space, strike, and logistics and modernization to customers worldwide. The company's segments include Aerospace Systems, Mission Systems and Technology Services. The company originally was formed in Hawthorne, California, in 1939, as Northrop Aircraft Incorporated. Northrop Grumman has paid a dividend to shareholders every year since at least 1972.