Lockheed Martin (LMT) just reported its third-quarter results, posting $18.6 billion in revenue and $1.6 billion in net earnings. Shortly after, management announced a 5% dividend hike, lifting the quarterly payout to $3.45 per share. This marks the 23rd year in a row the company has raised its dividend. The company’s consistency isn’t new, but the timing of its latest move couldn’t be sharper.
At the same time, global defense spending is set to climb to $2.69 trillion in 2025. That’s a 4.9% increase from last year. Countries are pushing harder to upgrade military technology and build out air power. These trends place Lockheed in a strong position as demand for its products ramps higher.
