According to an American Banking and Market News report, the board of directors of Northrop Grumman Corporation (NOC) announced a quarterly dividend - of $0.70 per share - on Northrop Grumman common stock, on Wednesday.

Falls Church, Virginia-based NOC provides products, services, and integrated solutions in aerospace, electronics, information and services to its clients across the globe.

The $0.70-per-share quarterly dividend announced by NOC represents a $2.80-per-share dividend on an annualized basis, and a yield of 2.18 percent.

The quarterly dividend declared by the NOC board of directors will be payable to the shareholders on September 17, 2014. All shareholders of record as of the close of business on September 2, 2014, will be paid the quarterly dividend.

Meanwhile, in its last-released earnings report released on July 23, the earnings per share (EPS) reported by NOC for the April-June quarter stood at $2.37, which was $0.15 more than the analysts' consensus estimate of $2.22 EPS.

Moreover, NOC's revenue for that quarter was $6.00 billion, which also surpassed the consensus estimated quarterly revenue of $5.97 billion.