December 18, 2012
Boeing raises dividend 10% and resumes $3.6bn share repurchase program
Boeing Chairman, President and Chief Executive Officer Jim McNerney announced a 10% increase in the company’s regular quarterly dividend to 48.5 cents per share and the resumption of its stock repurchase program with repurchases currently expected to total between $1.5bn and $2.0bn in 2013.
“Strong cash generation, consistently solid core operating performance and a positive growth outlook enable us to take these steps to deliver value for our shareholders,” McNerney said. “As returns accelerate on the investments we made in innovative new products, we plan to continue our balanced cash deployment strategy, increasing returns to shareholders, investing in our core businesses and our workforce, and maintaining a strong balance sheet with healthy credit ratings.” The repurchase program is expected to use the remaining $3.6bn previously authorized by the Boeing board of directors in October 2007. Boeing plans to begin repurchasing shares following its fourth-quarter earnings announcement in late January 2013.