DULLES, Va.Aug. 5, 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
September 24, 2015 to stockholders of record as of September 2, 2015.
Orbital ATK s Board also authorized an increase in the aggregate amount
of common stock that may be purchased under the company s stock
repurchase program for calendar year 2015, from the previously announced
level of the lesser of $75 million or 1 million shares to the lesser of
$100 million or 1.4 million shares. 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.
I am very pleased our Board approved management s recommendation to
expand the 2015 share repurchase program, said David W. Thompson,
Orbital ATK s President and Chief Executive Officer. Our Board is very
supportive of a balanced capital allocation plan that includes
dividends, share repurchases and required debt repayment, together with
investments in research and development and capital equipment to propel
future revenue growth and increased profitability.
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 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.
Orbital ATK
Investor and Media Contact:
Barron Beneski,
703-406-5528
Public and Investor Relations
barron.beneski@orbitalatk.com