|View printer-friendly version|
|Northrop Grumman Announces Additional $4 Billion Share Repurchase Authorization - Plans to Retire 25 Percent of Outstanding Shares|
The company will use available cash balances and free cash flow to fund the repurchases. In addition, the company may issue debt under its current shelf registration in order to support accelerated share repurchases.
"Today's action and yesterday's dividend increase reflect confidence in our performance and our belief that our share repurchase program continues to create value for our shareholders," said
Note: Statements in this press release, other than statements of historical fact, constitute "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "expect," "intend," "plan," "believe," "estimate," "guidance," "goal," and similar expressions generally identify these forward-looking statements. These forward-looking statements speak only as of the date when made, and the Company undertakes no obligation to update or revise any forward-looking statements after the date of the subject presentation. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. Actual results may differ materially from those described or implied in these statements based on a number of factors, including global economic conditions, economic conditions in our industry, government fiscal and budget policies, changes in interest rates and other market conditions. A discussion of these risks and uncertainties is contained in the Company's filings with the
Randy Belote (Media), 703-280-2720, firstname.lastname@example.org or Steve Movius (Investors), 703-280-4575, email@example.com