Northrop Grumman Announces $1 Billion Accelerated Share Repurchase Agreement

FALLS CHURCH, Va., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) today announced that it has entered into an accelerated share repurchase (ASR) agreement with Morgan Stanley & Co. LLC to repurchase $1 billion of Northrop Grumman's common stock. The company continues to target returning well over 100% of its free cash flow to shareholders through dividends and share repurchases in 2024. Under the ASR agreement, Northrop Grumman expects to receive an initial delivery of approximate ...