Huntington Ingalls Industries (HII) will raise its quarterly dividend by 10.7 percent to $1.14 per share in 2020. This follows a 19.8 percent dividend hike to $1.03 per share announced last year and marks the 8th consecutive year of annual dividend increases by the military shipbuilding company.

The next dividend will be payable on December 11, 2020, to shareholders of record as of the close of business on November 27, 2020. The new annual dividend of $4.56 per share yields 3.0% at a stock price of $152.72 for Huntington Ingalls Industries. The annual dividend payment now is $185 million.

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. The company's business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy. HII’s Technical Solutions division provides a wide range of professional services through its Fleet Support, Integrated Missions Solutions, Nuclear & Environmental, and Oil & Gas groups.