Trump Signs Order Pressing Defense Firms to Cut Buybacks

President Donald Trump signed an executive order pressing defense contractors to spend less on stock buybacks and dividends while boosting investment in infrastructure and weapons production, according to a person familiar with the matter.

The order calls on major defense contractors to no longer conduct stock buybacks or issue dividends procurement and increase production capacity, according to the person, who asked not to be identified discussing a document that’s not yet public.

Earlier Wednesday, Trump took to social media to urge the companies to spend more money on weapons development and less on shareholder returns. He said he wouldn’t allow ...