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Raytheon Stock Up, Will Pay

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Research Report Identifies Johnson Controls International, Arista Networks, Raytheon, Buffalo Wild Wings, Polaris Industries,... "GlobeNewswire Inc." - 11/29/2017 8:20:00 AM
Raytheon executive to speak at Credit Suisse 5th Annual Industrials Conference on Nov. 29 "PR Newswire (US)" - 11/20/2017 8:00:00 AM
Raytheon's ground system, space sensor critical to NOAA's newest polar satellite's mission "PR Newswire (US)" - 11/18/2017 7:03:00 AM
Raytheon Company declares quarterly cash dividend and increases share repurchase authorization by $2.0 billion "PR Newswire (US)" - 11/15/2017 4:05:00 PM
Raytheon to provide advanced telemetry system for Navy's new Range Support Aircraft "PR Newswire (US)" - 11/15/2017 10:00:00 AM
Human Rights Campaign names Raytheon a "Best Place to Work" for LGBTQ equality for 13th Consecutive Year "PR Newswire (US)" - 11/9/2017 2:23:00 PM
Raytheon, Saab team to develop new infantry weapons "PR Newswire (US)" - 11/9/2017 10:45:00 AM
Newest version of Raytheon's Joint Polar Satellite System Common Ground System is now operational "PR Newswire (US)" - 11/7/2017 2:47:00 PM
Sweden Seeks Raytheon Missile-Defense System "Dow Jones News" - 11/7/2017 2:00:00 PM
Raytheon Immersive Design Center wins Aviation Week 2017 Program Excellence award "PR Newswire (US)" - 11/6/2017 3:30:00 PM
US Air Force accepts Raytheon's GPS OCX launch and checkout system "PR Newswire (US)" - 11/2/2017 7:29:00 PM
frenchee   Saturday, 03/29/08 11:23:32 AM
Re: OptionMonster post# 114
Post # of 251 
Raytheon Stock Up, Will Pay
New Quarterly Dividend
By SHIRLEY A. LAZO

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.









Regards,
frenchee

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