Northrop Grumman boosts stock buyback to $2B

Northrop Grumman adds about $900M to stock buyback, increasing authorization to $2B

Associated Press

FALLS CHURCH, Va. (AP) -- Defense contractor Northrop Grumman Corp. said Wednesday it added about $900 million to its stock repurchase program, increasing its authorization to $2 billion.

Northrop Grumman said it had 248 million shares on the market as of June 30. The company had $1.1 billion remaining on its stock repurchase authorization at that time.

Northrop Grumman stock added a penny to $66.90 on Wednesday. In aftermarket trading the shares fell 25 cents to $66.65.

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