General Dynamics Board Declares Dividend, Authorizes Share Repurchases
FALLS CHURCH, Va. August 6, 2008 – The board of directors of General Dynamics (NYSE: GD) today declared a regular quarterly dividend of 35 cents per share on the company’s common stock, payable November 14, 2008, to shareholders of record on October 10.
The board also authorized management to repurchase up to 10 million shares of the company’s issued and outstanding common stock on the open market. The share repurchases may be made at management’s discretion, and could represent up to 2.5 percent of the company’s 397.3 million outstanding shares. The company has repurchased approximately 8.3 million shares since December 2007.
Headquartered in Falls Church, Virginia, General Dynamics employs approximately 84,600 people worldwide and anticipates 2008 revenues of approximately $29.5 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available at www.generaldynamics.com.
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