News in brief

Lockheed contract adds work in Camden

Lockheed Martin's missiles and fire control division has been awarded a $1.6 billion contract for modification of its foreign contract for Raytheon's Patriot air-defense missile systems, as well as associated equipment and spare parts.

Some of the work will be done at Lockheed's plant in Camden.

Other sites where the work will be done include Grand Prairie and Lufkin, Texas; Chelmsford, Mass; Ocala, Fla.; Huntsville, Ala.; and Anaheim, Calif. The estimated completion date is June 30, 2018.

Patriot missile systems will be built for South Korea, Qatar, Taiwan, the United Arab Emirates and Saudi Arabia.

A news release from Lockheed Martin said the modifications increase the Patriot missile system's firepower and ability to intercept ballistic missiles, cruise missiles and aircraft.

Lockheed Martin shares fell $1.79, or O.88 percent, to close Friday at $201.04.

The missile system was first used in combat during the first Gulf War to protect Israel and Saudi Arabia from Scud missiles fired by Iraq.

-- David Smith

J.B. Hunt set to pay dividend of 21 cents

J.B. Hunt Transport Services Inc. will pay a quarterly dividend of 21 cents per share Aug. 14.

Shareholders of record July 31 are eligible for the dividend payment.

It's the third-straight quarter the Lowell-based company has announced a dividend payout of 21 cents.

J.B. Hunt reported $103.4 million in net income for the first quarter of 2015 last week, which was a 10.7 percent increase from $93.4 million during the same three-month period in 2014.

Shares of J.B. Hunt stock closed Friday, trading at $82.22, up 53 cents per share.

-- Robbie Neiswanger

State index off 3.14; 4 on list hit new lows

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, slid 3.14 to 350.57 Friday.

Windstream Holdings Inc. shares tumbled almost 6 percent. Shares of the company hit a new 52-week low of $4.56 during intraday trading.

Communications Sales & Leasing Inc. fell 3.3 percent. Shares of the company, a spinoff of Windstream, hit a new 52-week low of $20.93 during intraday trading.

Dillard's Inc. dropped 1.3 percent. Shares of the company hit a new 52-week low of $98.89 during intraday trading.

Murphy Oil Corp. shares declined 3.4 percent. Shares of the company hit a new 52-week low of $32.88 in intraday trading.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 07/25/2015

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