BETHESDA, Md., Sept. 22, 2016 /PRNewswire/ -- The Lockheed Martin Corporation (NYSE: LMT) board of directors has authorized a fourth quarter 2016 dividend of $1.82 per share, representing a 10 percent increase or $0.17 per share over last quarter. The dividend is payable on December 30, 2016 to holders of record as of the close of business on December 1, 2016.
This is the 14th year in a row that the Corporation has increased its quarterly dividend rate by 10 percent or more.
"Our strong performance for our customers this year has enabled us to increase the dividend and enhance the value we deliver to our stockholders," said Marillyn Hewson, Lockheed Martin Chairman, President and CEO. "We've taken significant steps over the past year to reshape our portfolio and strengthen our core defense business. I'm confident this positions us well to grow and deliver long term value for our stockholders."
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About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 98,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
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Statements in this release about future performance constitute forward-looking statements within the meaning of the federal securities laws, and are based on Lockheed Martin's current expectations and assumptions. These statements are not guarantees of performance and are subject to risks and uncertainties. Actual results may differ materially due to factors such as: the Corporation's reliance on contracts with the U.S. Government, all of which are conditioned upon the availability of funding; declining budgets; affordability initiatives; the implementation of automatic sequestration under the Budget Control Act of 2011; U.S. Government operations under a continuing resolution or the failure to adopt a budget which may cause contracts to be delayed, canceled or funded at lower levels; risks related to the development, performance, schedule, cost and requirements of complex and technologically advanced programs including the Corporation's largest, the F-35 program; economic, industry, business and political conditions (domestic and international) including their effects on governmental policy; the Corporation's success in growing international sales and expanding into adjacent markets and risks associated with doing business in new markets and internationally; the competitive environment for the Corporation's products and services, competition from outside the aerospace and defense industry, and increased bid protests; planned production rates for significant programs and compliance with stringent performance and reliability standards; the Corporation's ability to implement and continue capitalization changes such as share repurchase activity, payment of dividends (including, in the event of a deficit in stockholders' equity, the availability of sufficient net earnings to permit such distributions under Maryland law), pension funding and/or debt activity as well as the pace and effect of any such capitalization changes; the accuracy of the Corporation's estimates and projections; interest rate and other changes that may affect pension plans assumptions, stockholder's equity, the level of FAS/CAS earnings and actual return on pension plan assets; and realizing the anticipated benefits of acquisitions or divestitures, ventures, teaming arrangements or internal reorganizations, and the Corporation's efforts to increase the efficiency of its operations and improve the affordability of its products and services. These are only some of the factors that may affect the forward-looking statements contained in this news release. For a discussion identifying additional important factors that could cause actual results to vary materially from those anticipated in the forward-looking statements, see the Corporation's filings with the U.S. Securities and Exchange Commission (SEC) including the Corporation's Annual Report on Form 10-K for the year ended Dec. 31, 2015 and quarterly reports on Form 10-Q. The Corporation's filings may be accessed through the Investor Relations page of its website, www.lockheedmartin.com/investor, or through the website maintained by the SEC at www.sec.gov. Except where required by applicable law, the Corporation expressly disclaims a duty to provide updates to forward-looking statements after the date of this news release to reflect subsequent events, changes in expectations, or the estimates and assumptions associated with them.
SOURCE Lockheed Martin Corporation