Lockheed Martin hikes dividend 7% as Ukraine war drags on

Lockheed Martin Corp.
LMT,
-.90%
said late Friday its board authorised a 7% hike to the aerospace and defense company’s dividend. The organization mentioned it will pay a $3-a-share dividend, up from a preceding $2.80 a share, on Dec. 30, to shareholders of report as of Dec. 1. Shares of Lockheed Martin are up 8.7% for the 12 months, compared with a 25% drop on the S&P 500 index
SPX,
-1.51%.
Lockheed Martin not only helps make the Superior Mobility Artillery Rocket Devices, or HIMARS, but partners with Raytheon Technologies Corp.
RTX,
-.58%
to make the Javelin anti-tank missile system, both equally of which have been supplied to Ukraine by the U.S. to protect alone from Russian invasion.