Reuters

BAE Systems raises dividend, launches new buyback on strong outlook

LONDON (Reuters) -British defence company BAE Systems lifted annual guidance, raised its dividend and launched a new share buyback plan, after saying its programmes to build submarines, fighter jets and other equipment were all running smoothly. BAE, whose main customers are the United States, Britain and Saudi Arabia, said it would hike its dividend to 9.9 pence, 5% up on last year’s interim payout, and would start a 500 million pound ($697 million) share buyback over the next 12 months. For the full-year, BAE said it expected underlying earnings per share to grow by 3% to 5% over last year’s result, even if the pound continued to strengthen against the dollar, representing an improvement on previous forecasts.

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