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Northrop Grumman
Corporation
NOC announced today that its board of directors has
authorized an increase in the company's outstanding share repurchase
authorization to $2 billion of common stock. Share purchases will take place
at management's discretion from time to time, depending on market conditions,
in the open market or in privately negotiated transactions. As of June 30,
2012, Northrop Grumman had 248 million shares outstanding and $1.1 billion
remaining on its share repurchase authorization.
"Today's increase in our share repurchase authorization demonstrates our
continuing commitment to a cash deployment strategy that includes distribution
of cash to shareholders through share repurchases and dividends," said Wes
Bush, Northrop Grumman chairman, chief executive officer and president.
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