Board Approves $200 Million in Additional Share Repurchases Through
Total Repurchase Authorization Since February 2015 Merger Reaches
Quarterly Cash Dividend Increased 6.5% to $0.32 per Share
DULLES, Va.Feb. 28, 2017--
Orbital ATK, Inc. (NYSE: OA), a global leader in aerospace and defense
technologies, today announced that its Board of Directors has approved a
$200 million increase to the company s share buyback program. The new
authorization extends through March 2018 and brings the total share
repurchase authorization to $450 million since the February 2015 merger.
The Board also approved a 6.5% increase in the company s quarterly cash
dividend to $0.32 per share, the second time the dividend has been
increased since Orbital ATK s formation.
We are very pleased that the Board has approved an increase in both our
share buyback authorization and cash dividend to shareholders, said
David W. Thompson, Orbital ATK s President and Chief Executive Officer.
These actions reflect our commitment to a balanced approach to capital
allocation, which includes returning capital to shareholders while
simultaneously investing for future growth.
The quarterly dividend of $0.32 per share will be paid on March 24, 2017
to shareholders of record as of the close of business on March 9, 2017.
Orbital ATK s previous dividend of $0.30 was paid on December 1, 2016.
Future dividends are subject to Board approval.
The new $200 million authorization for share repurchases is in addition
to a prior $250 million authority the Board previously approved. Shares
may not be purchased until the company has become current with the
filing of its financial reports with the Securities and Exchange
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 12,500 people in 18 states across the U.S. and in
several international locations. For more information, visit www.orbitalatk.com.
Source: Orbital ATK, Inc.
Media and Investor Contact:
Orbital ATK, Inc.
VP of Investor Relations