Company s Board Also Authorizes an Additional $150 Million for Share
Repurchases Through 2016
DULLES, Va.Nov. 2, 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
December 10, 2015 to stockholders of record as of November 18, 2015.
Orbital ATK s Board also authorized an expansion of the company s stock
repurchase program, increasing the aggregate amount of common stock that
may be purchased under the program from the lesser of $100 million or
1.4 million shares to the lesser of $250 million or 3.25 million shares
through calendar year 2016. As previously announced, 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
other factors.
We are very pleased to announce that the Board has approved an
expansion of our capital allocation program through the end of 2016,
with its authorization for an additional $150 million in share
buybacks, said David W. Thompson, Orbital ATK s President and Chief
Executive Officer. The Board continues to be strongly supportive of a
balanced approach to capital allocation that includes dividends, share
repurchases and required debt repayment, along with investments in
research and development and capital equipment to provide avenues for
organic 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 approximately 12,000 people in 18 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, including expectations for share
repurchases, dividends and debt repayment. 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 capital deployment which may be
impacted by the company s performance and the market price for the
company s common stock among other factors; 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.
Investor and Media Contact:
Orbital ATK
Barron Beneski,
703-406-5528
barron.beneski@orbitalatk.com