BETHESDA, Md., Sept. 25 /PRNewswire-FirstCall/ -- Lockheed Martin
Corporation (NYSE: LMT) today announced that its Board of Directors has
authorized the purchase of up to an additional 30 million shares of
Lockheed Martin common stock under its existing share repurchase program.
The company's share repurchase program was initiated in October 2002.
Through June 29, 2008, the company had repurchased a total of 113.9 million
shares, out of the existing share authorization of 128 million shares under
the program. In the first six months of 2008, Lockheed Martin repurchased
18.6 million shares under the program. As of June 29, the company had
approximately 396 million shares of common stock outstanding. The number of
shares purchased and the timing of purchases under the program are at the
discretion of management and are to be made in compliance with applicable
law and regulation. Shares may be purchased in the open market or in
privately negotiated transactions.
Earlier in the day, the Corporation announced that its Board of
Directors authorized a dividend increase of 36 percent or $0.15 per-share.
With this increase, the company's quarterly dividend will be $0.57
per-share. The dividend is payable Dec. 26, 2008 to holders of record as of
Dec. 1, 2008.
Headquartered in Bethesda, Md., Lockheed Martin is a global security
company that employs about 140,000 people worldwide and is principally
engaged in the research, design, development, manufacture, integration and
sustainment of advanced technology systems, products and services. The
corporation reported 2007 sales of $41.9 billion.
For additional information, visit our website:
http://www.lockheedmartin.com
SOURCE Lockheed Martin Corporation
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CONTACT:
Media: Jeff Adams, Director, Media Relations,
+1-301-897-6308, or Investor Relations: Jerry Kircher, Vice
President, Investor Relations, +1-301-897-6584, or Shamala
Littlefield, Director, Investor Relations, +1-301-897-6455, all
of Lockheed Martin Corporation
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