Huntington Ingalls doubles dividend and share repurchase program
Newport News-based Huntington Ingalls Industries has doubled its quarterly cash dividend to 40 cents a share.
The dividend will be payable Dec. 12 to shareholders of record on Nov. 28.
In addition to raising the dividend, the company’s board of directors boosted its share repurchase program from $300 million to $600 million and extended the program’s deadline from Oct. 31, 2017 to the same date in 2019.
“Increasing the quarterly cash dividend and the share repurchase program affirms our commitment to a balanced cash deployment strategy and further demonstrates our confidence in the company's performance and our ability to achieve 9-plus percent operating margin in 2015,” Mike Petters, HII's president and CEO, said in a statement.
Huntington Ingalls Industries designs and builds nuclear and conventionally-powered ships for the U.S. Navy and Coast Guard. The company employs more than 39,000 people.