Dividend Coverage: This Defense Contractor has an Annualized Payout of $7.28; Will Trade Ex-Dividend on August 30, 2017
LONDON, UK / ACCESSWIRE / August 29, 2017 / Pro-Trader Daily takes a closer look at Lockheed Martin Corp. (NYSE: LMT) as the Company's stock will begin trading ex-dividend on August 30, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on August 29, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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Dividend Declared
On June 22, 2017, Lockheed Martin's Board of Directors has authorized a third quarter 2017 dividend of $1.82 per share. The dividend is payable on September 22, 2017, to holders of record as of the close of business on September 01, 2017.
Lockheed Martin's indicated dividend represents a yield of 2.40%, which is substantially above the average dividend yield of 1.30% for the Industrial Goods sector. Lockheed Martin has raised dividend for 14 consecutive years.
Dividend Insights
Lockheed Martin has a dividend payout ratio of 57.6%, which indicates that the Company distributes approximately $0.58 for every $1.00 earned. The dividend payout ratio reflects how much money a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Lockheed Martin is forecasted to report earnings of $14.18 for the next year which is comfortably ahead of its annualized dividend of $7.28.
Lockheed Martin's cash, cash equivalents, and marketable securities totaled $2.45 billion as of June 25, 2017, compared to $1.84 billion as on December 31, 2016. The Company's cash from operations in second quarter of 2017 was $1.54 billion compared to $1.47 billion in the second quarter 2016. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Lockheed Martin
On August 23, 2017, Lockheed Martin received a $900 million contract from the US Air Force to develop and mature technologies for the Long Range Stand Off (LRSO) missile program. Terms of the Technical Maturation and Risk Reduction (TMRR) contract were not disclosed.
The TMRR phase of the program is a critical step in advancing technologies, systems, and subsystems for the weapon program, leading up to the Engineering, Manufacturing, and Development milestone expected in 2022.
LRSO is a replacement for the US Air Force's AGM-86 Air Launched Cruise Missile that has been operational since 1986. The LRSO weapon system will be capable of penetrating and surviving advanced integrated air defense systems from significant standoff range to prosecute strategic targets in support of the US Air Force's global attack capability and strategic deterrence core function.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services.
Stock Performance
At the closing bell, on Monday, August 28, 2017, Lockheed Martin's stock slightly advanced 0.27%, ending the trading session at $303.61. A total volume of 817.34 thousand shares have exchanged hands. The Company's stock price surged 8.40% in the last three months, 13.89% in the past six months, and 24.21% in the previous twelve months. Moreover, the stock rallied 21.47% since the start of the year. The stock is trading at a PE ratio of 23.91 and has a dividend yield of 2.40%. The stock currently has a market cap of $87.38 billion.
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