09:43 AM EDT, 05/10/2024 (MT Newswires) -- Curtiss-Wright ( CW ) was advancing Friday after the aerospace and defense contractor announced a three-fold increase in its stock buyback authorization, providing an extra $300 million in funding for a total of $400 million now available for future share repurchases.

The company also approved a 5% increase in its quarterly dividend Friday to $0.21 per share, payable July 5 to shareholders of record June 17.

Curtiss-Wright ( CW ) said it expects to buy back at least $50 million of the shares now owned by some of its top executives, board members or other insiders through pre-arranged 10b5-1 plan stock sales as part of its current share repurchase program.

The company's shares recently were 1% higher soon after Friday's opening bell.

Price: 277.96, Change: +0.88, Percent Change: +0.32