Raytheon's Board OKs $2 Billion Share Buyback Program

Raytheon Co. said Wednesday its board of directors has authorized a share buyback plan of up to $2 billion. The buybacks "may take place from time to time ... depending on market conditions," the defense technology company said. Raytheon also said it will pay its dividend of 67 cents a share to shareholders of record as of Jan. 6. Shares of Raytheon rose 0.3% in late trading Wednesday after ending the regular session up 0.6%.