• Most Popular
  • Most Shared

Northrop Grumman ups dividend, buys back shares

Wed Feb 21, 2007 8:46pm EST

Stocks

   

NEW YORK, Feb 21 (Reuters) - Northrop Grumman (NOC.N) said on Wednesday its board of directors approved a 23 percent dividend increase to $0.37 a share from $0.30 a share, the defense contractor said in a statement.

The Los Angeles-based company also said it would buy $600 million worth, or almost 8 million shares, of its common stock, from Credit Suisse. The sale is scheduled to close by Feb. 26.

Credit Suisse plans to repurchase the shares in the open market, according to the statement.



More from Reuters

Photo

Democrats gain 60th vote on health bill

WASHINGTON (Reuters) - Senate Democrats reached a compromise on Saturday with the last holdout senator that secured the 60 votes they need to pass a broad healthcare overhaul sought by President Barack Obama.

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review