General Dynamics Announces Dividend Increase

By Eric Volkman – Mar 6, 2013 at 12:00AM

NYSE: GD

General Dynamics

Market Cap

$80B

Today's Change

(0.48%) $1.41

Current Price

$292.72

Price as of April 23, 2024, 4:00 p.m. ET

The aerospace and defense company lifts its payout by just under 10%.

General Dynamics (GD 0.48%) has declared its latest quarterly dividend, and its first for 2013. The company will dispense $0.56 per share of its common stock on May 10 to shareholders of record as of April 12. This amount is nearly 10% higher than the $0.51 the firm distributed in the preceding four quarters

The company typically adjusts its payout once per year. In the press release announcing the new dividend, it pointed out that this is its 16th consecutive annual increase.

The new disbursement annualizes to $2.24 per share, which yields 3.3% at General Dynamics' current stock price of $67.68.

Fool contributor Eric Volkman has no position in General Dynamics. The Motley Fool owns shares of General Dynamics. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.