Northrop Grumman boosts dividend to 61 cents

FALLS CHURCH, Va. (AP) -- Northrop Grumman Corp. said Wednesday that its board increased the defense contractor's quarterly cash dividend by 6 cents, or 11 percent, to 61 cents.

The dividend will be paid on June 12 to shareholders of record as of May 28.

The Falls Church, Va.-based company said the move shows its continued commitment to a balanced cash strategy.