Northrop Grumman Corporation (NOC) Boosts Quarterly Dividend by 12.1%

On May 20, Northrop Grumman Corporation (NYSE:NOC) declared that it is increasing its quarterly dividend by 12.1% to $2.31 per share.

Northrop Grumman Corporation (NYSE:NOC) is an American multinational aerospace and defense company. It engages in various operations, including the design and production of both manned and unmanned aircraft, weapons, missile systems, sensors, and naval technologies. The company also holds a prominent position in space-related projects and national security efforts.

The latest quarterly dividend boost marked Northrop Grumman Corporation (NYSE:NOC)’s 22nd straight year of dividend increases, putting it just three years away from qualifying as a Dividend Aristocrat. Demonstrating its ongoing commitment to shareholders, the company returned nearly $800 million through dividends and stock buybacks. It also reiterated its free cash flow outlook for 2025.

The stock recorded a dividend yield of 1.73% on May 20, and it will trade ex-dividend on June 2.

While we acknowledge the potential of NOC as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than NOC but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the dirt cheap dividend stock.

READ MORE: 10 Biggest Dividend Cuts and Suspensions of 2024 and 10 Unstoppable Dividend Stocks to Buy Now

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