Lockheed Martin dividend growth drops below 5%

The 2024 dividend hike is the smallest decades

Last week Lockheed Martin (LMT) announced a 4.8% dividend hike to $3.30 quarterly per share. This marks 22 consecutive years of increased dividends. At a stock price of $605 the dividend yield for LMT is 2.2%.

This is the smallest increase since we started tracking the annual dividend increases on dividendhike.com. Actually it is the first time for LMT to announce a dividend increase smaller than 5%. Last year the dividend was raised by exactly 5%. Because of the ever smaller increases the 5 year CAGR for the Lockheed Martin dividend now drops to 6.6%.

Lockheed Martin is a security and aerospace company that is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The company also provides a broad range of management, engineering, technical, scientific, logistics, system integration and cybersecurity services. Lockheed serves both U.S. and international customers with its principal customers being agencies of the U.S. Government. The company's four business segments are: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space. Lockheed has paid a dividend every year since 1995.

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