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Lockheed Martin Declares Quarterly Dividend of $0.63 per Share
(June 27, 2010)
BETHESDA, Maryland - Lockheed Martin's (Public, NYSE:LMT) Board of Directors announced last thursday the company has authorized a quarterly dividend payment of $0.63 per share payable Sept. 24, 2010 to shareholders of record as of Sept. 1, 2010. Lockheed Martin stock has a dividend yield of 3.23% as of the close of markets on Friday, June 24, 2010. The company's dividend payout ratio is 33.3% which is a balanced cash flow management strategy employed by the company. The company has 371 million shares outstanding on the stock market with a total market capitalization of $28.96 billion.
Further to this news, Lockheed Martin said it will sell 2 of its business units and re-align its logistics operations to brace for a slower US growth market. According to Reuters:
Lockheed Chairman and Chief Executive Robert Stevens said on Wednesday the changes stemmed from a periodic portfolio review and were aimed at strengthening Lockheed's business at a time of major changes in the global security and economic environments. The changes at the No. 1 U.S. defense contractor follow earlier reorganizations of its space and electronic systems businesses, and will affect some 18,000 of Lockheed's 136,000 employees around the world.
Headquartered in Bethesda, MD, Lockheed Martin is a global security company that employs about 136,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
Lockheed Martin employs more than 70,000 engineers and scientists creating innovative solutions for the global security challenges of today and tomorrow. Technology development, engineering, and innovation are instrumental to the Corporation’s Aerospace and Defense core markets, as well as to emerging markets such as Cyber Security, Healthcare, and Energy and Climate Change. Lockheed Martin engineers literally span the globe, overseeing more than 4,000 programs at 600 locations in all 50 states and in 75 countries.
The engineers and scientists at Lockheed Martin, under the leadership of Senior Vice President and Chief Technology Officer, Dr. Ray O Johnson, create new ways of solving today’s most challenging problems. The Center for Innovation in Suffolk, Va., is a world class collaborative environment that provides a unique proving ground to demonstrate and understand how new technology concepts will perform in the real world.
Lockheed Martin is also developing the next generation of technical leaders with its Engineering Leadership Development Program and Advanced Technical Leadership Program. The Corporation works to continually enhance the voice of the technical community to drive innovation through communication and collaboration between its engineers and scientists.
Engineering, technology, and innovation provide a window into Lockheed Martin’s future.
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