FALLS CHURCH, Va.
Defense contractor General Dynamics Corp. said Thursday its board of directors has declared a quarterly dividend of 51 cents per share.
The regular dividend on the company's common stock will be payable Aug. 10 to shareholders of record at close of business on July 6.
The board also authorized management to repurchase 10 million shares of the company's issued and outstanding common stock on the open market. The company has about 360.6 million shares outstanding.
Shares of General Dynamics closed up 7 cents at $63.69. The stock is down about 4 percent in the year to date.