Lockheed Martin hikes dividend 7% as Ukraine war drags on

Lockheed Martin Corp.
LMT,
-0.90%
said late Friday its board approved a 7% hike to the aerospace and defense company’s dividend. The company said it will pay a $3-a-share dividend, up from a previous $2.80 a share, on Dec. 30, to shareholders of record as of Dec. 1. Shares of Lockheed Martin are up 8.7% for the year, compared with a 25% decline on the S&P 500 index
SPX,
-1.51%.
Lockheed Martin not only makes the High Mobility Artillery Rocket Systems, or HIMARS, but partners with Raytheon Technologies Corp.
RTX,
-0.58%
to make the Javelin anti-tank missile system, both of which have been supplied to Ukraine by the U.S. to defend itself from Russian invasion.