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LOCKHEED BOARD AUTHORIZES STOCK REPURCHASE PROGRAM

      LOCKHEED BOARD AUTHORIZES STOCK REPURCHASE PROGRAM
    CALABASAS, Calif., Nov. 4 /PRNewswire/ -- Lockheed Corp.'s (NYSE: LK) board of directors today authorized a program to repurchase outstanding shares of the company's common stock.
    The program provides for the purchase of up to 4 million shares, either in the open market or in negotiated transactions, subject to market conditions, available cash flow, and other business considerations. Lockheed may continue to repurchase shares beyond the initial level, subject to the same conditions and to periodic board review.
    "This is a demonstration of our commitment to returning greater value to stockholders," said Dan Tellep, Lockheed chairman and chief executive officer.
    Lockheed had 63.4 million shares of common stock outstanding on Sept. 30, 1991, the close of the company's third quarter.
    Lockheed directors also today declared a quarterly dividend of 50 cents per share to holders of the corporation's common stock. The dividend is payable Dec. 2, 1991, to shareholders of record Nov. 18, 1991.
    -0-                    11/4/91
    /CONTACT:  Bob Slayman, 818-712-2468, or Scott Hallman, 818-712-2477, both of Lockheed/
    (LK) CO:  Lockheed Corporation ST:  California IN:  ARO SU: CH -- LA012 -- 0736 11/04/91 12:26 EST
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Publication:PR Newswire
Date:Nov 4, 1991
Words:194
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