Orbital ATK (OA) will increase its quarterly dividend to $0.32 per share.

will be paid on March 24, 2017 to shareholders of record as of the close of business on March 9, 2017.

“We are very pleased that the Board has approved an increase in both our share buyback authorization and cash dividend to shareholders,” said David W. Thompson, Orbital ATK’s President and Chief Executive Officer. “These actions reflect our commitment to a balanced approach to capital allocation, which includes returning capital to shareholders while simultaneously investing for future growth.”

Orbital ATK designs, builds and delivers space, defense and aviation systems. Its main products include launch vehicles and related propulsion systems; missile products, subsystems and defense electronics; precision weapons, armament systems and ammunition; satellites and associated space components and services; and advanced aerospace structures.