October 29, 2015
NEWPORT NEWS, Va., Oct. 29, 2015 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that its Board of Directors has declared a quarterly cash dividend of $0.50 per share, a 25 percent increase over the $0.40 per share dividend paid in each of the prior four quarters. The $0.50 per share dividend will be payable on Dec. 11, 2015, to shareholders of record on Nov. 27, 2015.
The Board of Directors also authorized an increase in the company’s share repurchase program from $600 million to $1.2 billion.
“The increase in the quarterly dividend and the share repurchase program demonstrates our confidence in the company’s performance and free cash-flow generation,” said Mike Petters, HII’s president and CEO.
Purchases under the share repurchase program may be made from time to time at the discretion of management in the open market, through privately negotiated transactions or through other means, are subject to prevailing market conditions and other factors, and may be suspended or discontinued at any time.
Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of manufacturing, engineering and management services to the nuclear energy, oil and gas markets. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. Headquartered in Newport News, Virginia, HII employs approximately 37,000 people operating both domestically and internationally. For more information, visit:
HII is a global, all-domain defense provider. HII's mission is to deliver the world's most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world.
As the nation's largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. Headquartered in Virginia, HII's workforce is 44,000 strong.
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