Buyback activity followed a similar pattern last week with only 6 companies announcing their buybacks. Orchid Island Capital (ORC) topped our list with a buyback that represents 13.8% of its market cap, followed by a $14 billion additional buyback by Lockheed Martin Corporation (LMT) which represents around 12.2% of its market cap at announcement. LMT also increased its quarterly dividend by 7% to $3.00 per share.
The $1.13 billion buyback by Indian software services company, Infosys Limited (INFY) stood out last week. Infosys is a global consulting and IT services company that is present in 50-plus countries and has over 1,800 clients. Infosys continued its acquisition spree this year to strengthen its presence across Europe, Germany, and Northeast Asia.