Lockheed Martin board approves share purchase increase by USD 1bn

Board of directors of The Lockheed Martin Corporation [NYSE: LMT] has announced it has authorized the purchase of up to an additional USD 1.0 billion of Lockheed Martin common stock under its share repurchase program, the company said.

With this increase, the total remaining authorization for future repurchases under the share repurchase program is approximately USD 3.3 billion. The number of shares purchased and the timing of purchases are at the discretion of management and subject to compliance with applicable law and regulation.

Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.