Falls Church, VA-based Northrop Grumman Corp. NOC announced that its board of directors has approved an increase in the quarterly dividend by 10 cents, bringing the annualized payout to $4 per share, up 11% from $3.60 paid earlier.
Increasing dividend has become an annual ritual for this defense major. This will mark the 14th consecutive annual dividend hike by Northrop Grumman.
Of course, no Saudi royal guest accorded such a triumphant welcome can arrive empty handed. Nothing pleases a Saudi host than a new mega dose of American arms. Just in time to coincide with the President’s visit, the United States will unveil in Riyadh a “ginormous” arms deal fit for a king brokered by Jared Kushner and Crown Prince Mohammed in the neighborhood of $110 BILLION over 10 years.