General Dynamics Corp. raised its quarterly dividend by 11% to 93 cents a share, with the new dividend payable May 11 to shareholders of record on April 13. The aerospace and defense company said this marks the 21st-straight year it has increased its dividend. The stock was up less than 0.1% in afternoon trade. Based on current share prices, the new annual dividend rate of $3.72 implies a dividend yield of 1.65%, compared with the implied dividend yield for the S&P 500 of 1.90%, according to FactSet. The stock has rallied 12.4% over the past three months, while the S&P 500 has gained 3.1%.
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