Lockheed Martin Dividend Provides 2.8% Yield

Lockheed Martin Corporation LMT disclosed on Thursday that its board has authorized dividend of $1.65 per share for the third quarter. On an annualized basis, this worked out to $6.60 a share. The dividend offered a yield of 2.8 percent yield, which is lower than the five-year average yield of 3.5 percent. Lockheed Martin said that the dividend would be payable on September 23, 2016 to holders of record as of the close of business on September 1. For thirteen straight years, the company has been increasing its dividend rate. The current dividend payout ratio is about 57.0 percent. While the five-year average dividend growth was 17.69 percent, the three-year average dividend growth rate was 13.19 percent. Shares of the company traded 0.26 percent higher on Thursday.