Raytheon Company (NYSE: RTN) announced today that its Board of Directors has declared a quarterly cash dividend of $0.7975 per outstanding share of common stock. The cash dividend is payable on Feb. 1, 2018, to shareholders of record as of the close of business on Jan. 3, 2018.

The Board of Directors also authorized the repurchase of up to $2.0 billion of the company’s outstanding common stock. This is in addition to amounts available under the authorized repurchase program, which were approximately $900 million at the end of the third quarter of 2017. Share repurchases may take place from time to time at the company’s discretion depending on market conditions.

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