Huntington Ingalls Board Increases Dividend and Share Repurchases

On November 7, Huntington Ingalls (HII) announced two major decisions by its Board of Directors. First, the company increased the dividend paid out to its shareholders from $0.60 to $0.72. The next dividend date is December 8, 2017. Second, the Board of Directors authorized a $1 billion increase in the company’s share repurchase program. The company can now repurchase up to $2.2 billion worth of its outstanding shares. Huntington Ingalls is America’s largest shipbuilding company.

Sonal caught the news and issued an alert at 6:09 pm. The first trade took place the next morning in pre-market trading for $233.35. Trading opened for the day at $235.

Huntington Ingalls continued to push higher throughout the day before closing at $251.86. So, investors trading the news were able to earn almost 8% return for the day.

 

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