November 5, 2019
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.
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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