BETHESDA, Md. - Lockheed Martin Corporation (NYSE: NYSE:LMT) announced that its board of directors has approved a quarterly dividend for the third quarter of 2024. Shareholders of record as of September 3, 2024, will receive a dividend of $3.15 per share, which is scheduled to be paid on September 27, 2024.
Lockheed Martin, known for its role in the global defense sector and technological innovation, continues to focus on delivering advanced solutions across all domains of national security. This dividend declaration follows the company's ongoing commitment to providing value to its shareholders while maintaining its strategic objectives.
The announcement is an essential update for investors and market watchers, reflecting the company's financial distributions. The declared dividend is part of Lockheed Martin's financial strategy, underpinning its position in the industry and its commitment to shareholder returns.
This information is based on a press release statement from Lockheed Martin.
In other recent news, Lockheed Martin and Raytheon (NYSE:RTN) Technologies (NYSE:RTX) Corporation are seeing a surge in demand for the Patriot missile defense system amid the ongoing Ukraine conflict. This has led to an increase in production by 100 missiles annually, potentially boosting yearly sales by $400 million. Meanwhile, Boeing (NYSE:BA) Co is expanding its production capacity to meet the growing demand for the Patriot system's sensor.
In another development, Lockheed Martin recently delivered the 2,700th C-130 Hercules aircraft, a significant milestone for the company. This versatile aircraft is flown by operators in 70 countries for various missions including tactical airlift and humanitarian operations.
Moreover, Germany is considering expanding its F-35 fleet with eight additional jets from Lockheed Martin. This potential acquisition would strengthen Germany's military capabilities and modernize its defense strategy.
Lockheed Martin also secured a new purchase agreement with Firefly Aerospace for up to 25 launches using Firefly's Alpha rocket by 2029. This partnership aims to deploy spacecraft and payloads into low-Earth orbit.
Lastly, Lockheed Martin Skunk Works® has been testing the application of artificial intelligence (AI) in air-to-air intercept exercises. This collaboration with the University of Iowa's Operator Performance Laboratory recently resulted in successful live test flights, marking a significant advancement in AI applications for air combat scenarios. These are among the recent developments concerning Lockheed Martin.
InvestingPro Insights
Lockheed Martin Corporation's (NYSE: LMT) latest dividend announcement is a testament to its robust financial strategy and commitment to shareholder value. The defense giant has not only approved a quarterly dividend but also boasts a remarkable track record of raising its dividend for 21 consecutive years, showcasing its consistent performance and reliable returns for investors. The company's dedication to shareholder returns is further highlighted by its history of maintaining dividend payments for an impressive 41 consecutive years.
In terms of financial metrics, Lockheed Martin presents a compelling investment profile. With a market capitalization of $112.02 billion, the company is a significant player in the Aerospace & Defense industry. Its P/E ratio stands at 16.97, which adjusts to an even more attractive 16.18 when looking at the last twelve months as of Q1 2024. This valuation is particularly compelling when paired with its near-term earnings growth, indicating that the stock is trading at a low P/E ratio relative to its potential.
Investors seeking further insights into Lockheed Martin's financial health and future prospects can explore additional InvestingPro Tips by visiting https://www.investing.com/pro/LMT. There, they will find a total of 13 tips, including analyses on the company's share buyback strategy, low price volatility, and its positioning within the industry. For those considering an in-depth analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a wealth of data and expert insights that can inform smarter investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.