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Raytheon Stock Up, Will Pay

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Raytheon chooses US site to manufacture Air Force jet trainer "PR Newswire (US)" - 10/24/2016 11:05:00 AM
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Raytheon awarded Title III contract to advance its industry-leading Gallium Nitride technology "PR Newswire (US)" - 10/19/2016 8:00:00 AM
Raytheon Company to release third quarter 2016 results on October 27, 2016 "PR Newswire (US)" - 10/18/2016 8:00:00 AM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 10/18/2016 7:47:18 AM
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MathAlive! Exhibit opening at Virginia Air and Space Center "PR Newswire (US)" - 10/17/2016 8:00:00 AM
Raytheon, US Air Force complete test milestone for next-generation GPS controls "PR Newswire (US)" - 10/12/2016 10:00:00 AM
Cyber threats to U.S. presidential election helps boost interest in cybersecurity careers among millennials "PR Newswire (US)" - 10/12/2016 10:00:00 AM
Raytheon honors Navy hero with new $10K scholarship "PR Newswire (US)" - 10/12/2016 8:00:00 AM
Raytheon developing next-generation human/machine interface for armored ground vehicles "PR Newswire (US)" - 10/10/2016 8:30:00 AM
The Netherlands invests in the future of its Patriot Integrated Air and Missile Defense System "PR Newswire (US)" - 10/6/2016 8:30:00 AM
Raytheon, Logos collaborate on advanced multi-intelligence sensors "PR Newswire (US)" - 10/5/2016 12:30:00 PM
Raytheon completes first AMRAAM-ER missile flight tests from NASAMS air defense system "PR Newswire (US)" - 10/4/2016 2:30:00 PM
Raytheon Sponsors Full Home for Habitat for Humanity "PR Newswire (US)" - 10/4/2016 7:00:00 AM
Cruise Missiles To Cybersecurity -- WSJ "Dow Jones News" - 10/3/2016 3:03:00 AM
US Navy achieves longest range surface-to-air intercept in naval history "PR Newswire (US)" - 9/30/2016 11:00:00 AM
Raytheon to start transition to production planning of Gallium Nitride technology for AN/TPY-2 radars "PR Newswire (US)" - 9/30/2016 8:00:00 AM
Lockheed Wins Contract to Install Weapons on Australian Submarines "Dow Jones News" - 9/29/2016 10:50:00 AM
Lockheed Wins Contract to Install Weapons on Australian Submarines "Dow Jones News" - 9/29/2016 10:30:00 AM
Raytheon chosen for cybersecurity research and support to U.S. Navy "PR Newswire (US)" - 9/29/2016 8:00:00 AM
Raytheon wins two Brandon Hall Excellence in Learning Awards for virtual reality training systems "PR Newswire (US)" - 9/28/2016 8:00:00 AM
Statement of Changes in Beneficial Ownership (4) "Edgar (US Regulatory)" - 9/26/2016 5:11:58 PM
Initial Statement of Beneficial Ownership (3) "Edgar (US Regulatory)" - 9/26/2016 5:11:30 PM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 9/26/2016 4:40:01 PM
frenchee   Saturday, 03/29/08 11:23:32 AM
Re: OptionMonster post# 114
Post # of 238 
Raytheon Stock Up, Will Pay
New Quarterly Dividend

RAYTHEON MADE HEADLINES AROUND THE WORLD LAST MONTH when one of its Navy-fired, pinpoint-accurate missiles brought down a dying U.S. spy satellite that could have created a hazard had it struck Earth. That achievement may also have benefited the controversial U.S. missile-defense program.

At about the same time, Raytheon's Big Board-listed stock (ticker: RTN) hit a 52-week high of 67.49. Since then, it's remained aloft. Of course, defense is one of the few industries that generally can produce strong earnings in an economic slowdown. Raytheon's 10% dividend boost Wednesday was a plus for the shares, too.

The world's fifth-largest defense contractor, whose specialty is high-tech missiles and electronics, will pay a new quarterly of 28 cents a common share, up from 25.5 cents. Yield: 1.73%. Disbursement is scheduled for April 29 to investors on Raytheon's roster April 1. The stock went ex-dividend March 28. As detailed in this space March 10, rival General Dynamics (GD) has enriched its quarterly 20.7%.

"This dividend increase reflects our continued strong financial performance and our ongoing commitment to provide value to our shareholders," said Raytheon CEO William H. Swanson. The 86-year-old Waltham, Mass., company has paid dividends without interruption since 1964. Payouts resumed their climb in 2005, after having been stuck at 20 cents a share since 1996.

Uncle Sam accounts for 85% of Raytheon's annual sales, which last year totaled $21.3 billion. JPMorgan Securities recently noted that, at approximately $670 billion, defense spending represents 20% of the U.S. budget and surpasses the rest of the world's military expenditures by more than $150 billion. Morgan estimates outlay growth of 13% in fiscal 2008 and 15% in fiscal 2009. Furthermore, since 2003, says Morgan, defense contractors have increased free cash flow 125%, to $20.7 billion, and cut net debt 85%, to only $5.4 billion.

The defense sector also set a record for stock buybacks in 2007. For its part, Raytheon repurchased 28.7 million of its shares last year for $1.6 billion. At year-end 2007, it had $25.5 billion in bookings and a $36.6 billion backlog -- both records. For 2008, the company expects earnings from continuing operations of $3.65 to $3.80 a share, versus 2007's $3.31.


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