General Dynamics (NYSE:GD) is electing to keep its dividend level for the time being. The company has declared a quarterly disbursement of $0.56 per share of its common stock, to be paid on Aug. 9 to shareholders of record as of July 5.

That amount matches the company's previous distribution, which was handed out in May. Before that, General Dynamics paid $0.51 per share.

The company is a reliable dividend payer. It tends to raise its distribution once every year.

The just-declared dividend annualizes to $2.24 per share. That yields 2.9% at General Dynamics' most recent closing stock price of $76.68.