Dividend Coverage: This Defense Contractor has a Dividend Payout of $4.00; Will Trade Ex-Dividend on August 24, 2017
LONDON, UK / ACCESSWIRE / August 23, 2017 /Pro-Trader Daily takes a closer look at Northrop Grumman Corp. (NYSE: NOC) as the Company's stock will begin trading ex-dividend on August 24, 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 23, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
Today, PRO-TD covers ex-dividend news on NOC. Get our free coverage by signing up at:
On August 16, 2017, Northrop Grumman's Board of Directors declared a quarterly dividend of $1.00 per share on its common stock, payable September 13, 2017, to shareholders of record as of the close of business August 28, 2017.
Northrop Grumman's indicated dividend represents a yield of 1.49%, which is higher compared to the average dividend yield of 1.32% for the Industrial Goods sector. The Company has raised its dividend for nine consecutive years.
Northrop Grumman has a dividend payout ratio of 31.8%, which means that the Company distributes approximately $0.32 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, Northrop Grumman is forecasted to report earnings of $13.61 for the next year which is more than four times the Company's annualized dividend of $4.00.
Northrop Grumman's cash provided by operating activities totaled $507 million for Q2 2017 compared to $604 million provided in Q2 2016. The Company's free cash flow was $290 million after capital expenditures of $217 million. As of June 30, 2017, Northrop Grumman had cash and cash equivalents worth $1.38 billion and total current assets were $6.86 billion. The Company's total current liabilities on that date were $6.19 billion. The Company's strong financial position indicates the its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Assurant
On July 26, 2017, Northrop Grumman reported that sales increased 6% to $6.4 billion for Q2 2017 from $6.0 billion in Q2 2016. The Company's reported quarter net earnings increased 7% to $552 million from $517 million in the prior year's same period. Northrop Grumman's diluted earnings per share advanced 11% to $3.15 in Q2 2017 from $2.85 in Q2 2016.
"Our results represent solid operational performance from all three of our businesses and support our strategy to drive profitable growth over the long term," said Wes Bush, Chairman, Chief Executive Officer, and President.
About Northrop Grumman
Northrop Grumman is a leading global security company providing innovative systems, products and solutions in autonomous systems, cyber, C4ISR, strike, and logistics and modernization to customers worldwide.
Northrop Grumman's share price finished yesterday's trading session at $272.82, advancing 1.91%. A total volume of 612.91 thousand shares have exchanged hands. The Company's stock price rallied 8.85% in the last three months, 12.28% in the past six months, and 25.00% in the previous twelve months. Additionally, the stock surged 17.30% since the start of the year. Shares of the Company have a PE ratio of 20.84 and have a dividend yield of 1.47%. The stock currently has a market cap of $47.59 billion.
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