By Paul Ziobro
Northrop Grumman said Tuesday that it has raised its quarterly dividend by 8%.
The aerospace and defense company said its board of directors declared a quarterly dividend of $1.87 a share, payable June 14 to shareholders of record at the close of business on May 30.
The new payout, equal to $7.48 a year, represents an annual yield of about 1.7%, based on Tuesday's closing price of $435.63.
Chief Executive Kathy Warden said the company is upping its dividend for the 20th consecutive year.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
05-16-23 1700ET