BETHESDA, Md., Sept. 25, 2014 /PRNewswire/ -- The Lockheed Martin Corporation [NYSE: LMT] board of directors has authorized a fourth quarter 2014 dividend of $1.50 per share, representing a $0.17, or 13 percent, increase over last quarter. The dividend is payable on Dec. 26, 2014 to holders of record as of the close of business on Dec. 1, 2014.

"We continue to generate excellent value for our shareholders and are proud to deliver the 12th consecutive annual double-digit increase of the Lockheed Martin quarterly dividend rate," said Marillyn Hewson, Lockheed Martin Chairman, President and CEO. "Our world-class workforce remains focused on executing our strategy for growth, investing in innovation, meeting our customers' needs and delivering solid performance for our shareholders."

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2013 were $45.4 billion.

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SOURCE Lockheed Martin