Board of Directors Authorizes Up to $75 Million in Share Repurchases
Company Also Declares $0.26 Per Share Quarterly Dividend
DULLES, Va.Mar. 12, 2015--
Orbital ATK, Inc. (NYSE: OA), a global leader in aerospace and defense
technologies, today announced that its Board of Directors has declared a
quarterly cash dividend of $0.26 per share. The dividend will be payable
June 25, 2015 to stockholders of record as of June 8, 2015.
Orbital ATK s Board also authorized the company to repurchase up to $75
million of its common stock over the remainder of calendar year 2015.
Under the newly authorized repurchase program, shares of common stock
may be purchased from time to time in the open market, subject to
compliance with applicable laws and regulations and the company s debt
covenants and other agreements, depending upon market conditions and
I am very pleased that our Board has adopted management s
recommendations for a balanced and sustainable plan to return capital to
shareholders, said President and Chief Executive Officer David W.
Thompson. We expect robust cash flow generation over the next several
years and have put a plan in place that will enable us to return
significant value to shareholders while continuing to invest in our
business to propel future growth.
About Orbital ATK
Orbital ATK is a global leader in aerospace and defense technologies.
The company designs, builds and delivers space, defense and aviation
systems for customers around the world, both as a prime contractor and
merchant supplier. Its main products include launch vehicles and related
propulsion systems; missile products, subsystems and defense
electronics; precision weapons, armament systems and ammunition;
satellites and associated space components and services; and advanced
aerospace structures. Headquartered in Dulles, Virginia, Orbital ATK
employs more than 12,000 people in 20 states across the U.S. and in
several international locations. For more information, visit www.orbitalatk.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
Certain information discussed in this press release constitutes
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking information is subject to
certain risks, trends and uncertainties that could cause actual results
to differ materially from those projected. Among those factors are
decisions related to the authorized repurchase of shares of stock; the
potential inability to achieve expected synergies and operating
efficiencies; the potential inability to maintain and grow customer
relationships; reductions or changes in U.S. Government military or NASA
spending; timing of payments and budgetary policies; changes in cost and
revenue estimates and/or timing of programs; the potential termination
of U.S. Government contracts and the potential inability to recover
termination costs; costs of servicing debt, including cash requirements
and interest rate fluctuations; potential customer loss and business
disruption; potential difficulties in retaining key employees; and the
costs and ultimate outcome of litigation matters and other legal
proceedings. Orbital ATK undertakes no obligation to update any
forward-looking statements. For further information on factors that
could impact Orbital ATK, and statements contained herein, please refer
to the company s most recent Annual Report on Form 10-K and any
subsequent quarterly reports on Form 10-Q and current reports on Form
8-K filed with the U.S. Securities and Exchange Commission.
Source: Orbital ATK, Inc.
Orbital ATK, Inc.
Barron Beneski, 703-406-5528