Wednesday, defense contractor Northrop Grumman Corp. (NOC), said its board of directors has approved to raise quarterly dividend to US$0.43 per share from US$0.40 per share. The dividend is payable on June 13 to stockholders of record as of the close of business on June 1, 2009.
The Los Angeles, California-based company has raised its quarterly dividend in each of the last five years, and it has more than doubled since the fiscal year 2003.
Northrop Grumman provides innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers, and employs 120,000 worldwide.
NOC closed Tuesday's trading at $48.29 on the NYSE.
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