Lockheed Martin raises dividend, approves $6 billion additional share buyback

Lockheed Martin Corp.
LMT,
+0.85%
said late Friday that its board has authorized a dividend increase to $3.15 a share, from $3 a share, with the dividend payable Dec. 29 to shareholders of record as of Dec. 1. That marks the 21st straight year of dividend increases for the company, it said. The aerospace and defense company also said that the board authorized an additional $6 billion under its share buyback program, nearly doubling the current authorization to $13 billion for future purchases. Shares of Lockheed Martin edged higher in the extended session Friday after ending the regular trading day up 0.9%.