Key Highlights

  • General Dynamics’ $1.59 quarterly Dividend trades ex-dividend October 9, 2026, with payment on November 13 to shareholders of record.
  • Second-quarter Revenue was $14,094 million, up 8.1%, with operating Earnings of $1,460 million and a 10.4% operating margin.
  • Diluted EPS was $4.24, up 13.4% from $3.74, and Operating Cash Flow was $1,880 million, or 162% of net earnings.
  • Backlog was $136.5 billion, with $20 billion of orders in the quarter and a book-to-bill ratio of 1.4 to 1.

General Dynamics Corporation (NYSE:GD) declared a quarterly dividend of $1.59 per share, a Yield of 1.95%, payable November 13 to shareholders of record on October 9, 2026. The $1.59 amount equals 37.5% of second-quarter diluted EPS of $4.24. Second-quarter revenue was $14,094 million.

Dividend Program and Shareholder Returns

The board announced the $1.59 regular quarterly dividend on August 5, 2026, payable November 13 to shareholders of record on October 9. The shares trade ex-dividend on October 9.

The March 9 declaration was also $1.59, with a Record Date of April 10 and payment on May 8. The company paid $429 million of dividends in the second quarter and $834 million in the first six months. The $1.59 quarterly amount equals $6.36 on an annualized basis, a computed figure. Each dividend remains subject to board approval.

About the Company

General Dynamics Corporation is an aerospace and defense company reporting four segments: Aerospace, Marine Systems, Combat Systems and Technologies. At the end of the second quarter, which ended July 5, 2026, total Debt was $7,516 million and cash and equivalents were $4,333 million. Total Backlog was $136,498 million, plus $50.4 billion of estimated potential contract value.

Second-Quarter Revenue, Earnings and Cash Flow

Revenue was $14,094 million, compared with $13,041 million. Operating earnings were $1,460 million, up 11.9% from $1,305 million, and the Operating Margin was 10.4%, up 40 basis points from 10.0%. Net earnings were $1,160 million, compared with $1,014 million, and diluted EPS was $4.24.

Operating cash flow was $1,880 million and free cash flow was $1,646 million, compared with $1,400 million. Capital expenditures were $234 million and total debt fell by $498 million. For six months, revenue was $27,575 million, net earnings were $2,285 million, diluted EPS was $8.35, compared with $7.40, and free cash flow was $3,598 million, compared with $1,110 million.

Segment Results and Backlog

Aerospace revenue was $3,525 million, up 15.1%, with operating earnings of $510 million and a 14.5% margin. Marine Systems revenue was $4,660 million, up 10.4%, with operating earnings of $342 million and a 7.3% margin. Combat Systems revenue was $2,290 million, up 0.3%, with operating earnings of $318 million and a 13.9% margin.

Technologies revenue was $3,619 million, up 4.1%, with operating earnings of $339 million and a 9.4% margin. Orders were $14.7 billion in the defense segments and $5,278 million in Aerospace. Marine Systems backlog was $65,182 million, which is 47.8% of the total, a computed ratio.

Full-Year Guidance from the Second-Quarter Call

On the July 29 call, management stated an increased 2026 EPS forecast of $16.80 to $16.90, raised from $16.45 to $16.55. It also cited revenue of approximately $55.7 billion, an operating margin of 10.5%, and free cash flow conversion of around 105% of net income.

The $6.36 annualized dividend equals 37.6% to 37.9% of the EPS range, computed from the high and low ends. Second-quarter dividends of $429 million equal 26.1% of the $1,646 million of free cash flow, also computed.

Outlook

General Dynamics’ $1.59 quarterly dividend is payable November 13 to shareholders of record on October 9, 2026. The $16.80 to $16.90 EPS forecast, the $136.5 billion backlog, the roughly 105% free cash flow conversion stated for 2026, and the margin trend across the four segments are the relevant considerations.