November 5, 2019
HUNTINGTON INGALLS INDUSTRIES INCREASES QUARTERLY DIVIDEND TO $1.03 PER SHARE; AUTHORIZES A $1 BILLION INCREASE IN ITS SHARE REPURCHASE PROGRAM TO $3.2 BILLION
NEWPORT NEWS, Va., Nov. 05, 2019 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE: HII) announced today that its Board of Directors has declared a quarterly cash dividend of $1.03 per share, a $0.17 increase over the $0.86 per share dividend paid in each of the prior four quarters. The $1.03 per share dividend will be payable on Dec. 13, 2019, to shareholders of record as of the close of business on Nov. 29, 2019.
The Board of Directors also authorized an increase in the company’s share repurchase program from $2.2 billion to $3.2 billion and extended the term of the program from Oct. 31, 2022, to Oct. 31, 2024.
“These actions demonstrate continued confidence in HII’s free cash flow generation and support our Path to 2020 commitment to return substantially all of our free cash flow to shareholders,” 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.
About HII
HII is America's Seapower Company. The nation’s largest shipbuilder, HII builds the manned and unmanned maritime systems and all-domain mission technologies that project U.S. and allied power around the world. With a more than 140-year history of advancing U.S. national security, HII is headquartered in Virginia and employs 45,000 people across three divisions.
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