Global security company Northrop Grumman Corp. (NOC) on Thursday announced that its Board has authorized an additional $4 billion for repurchase of the company's common stock.
The company plans to repurchase shares with the goal of retiring approximately 25 percent of its shares outstanding by the end of 2015, market conditions permitting. The company's total share purchase authorization now totals $5 billion.
As of March 31, 2013, Northrop Grumman had approximately 235 million shares outstanding.
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