Subscribe Free
in Business & Finance

Boeing Board raises dividend, renews share repurchase authorisation

Posted 13 December 2016 · Add Comment

The Boeing board of directors has declared the company's quarterly dividend will increase 30 percent to $1.42 per share. The board also replaced the existing share repurchase programme with a new $14 billion authorisation.

"As our team delivers on our large and diverse order backlog, and drives greater efficiency across our business, Boeing is well positioned to generate increasing cash flows and meet our commitment to provide competitive returns to our shareholders. At the same time, Boeing is continuing to invest in our people, innovation and growth as part of a balanced cash deployment strategy," said Boeing Chairman, President and chief executive officer Dennis Muilenburg.

The company has consistently paid a dividend to shareholders for more than 75 years and has raised the quarterly payment about 190 percent over the past four years. The new dividend will be payable March 3, 2017 to shareholders of record as of Feb. 10, 2017.

Share repurchases for 2016 have been completed. In all, the company this year bought back $7 billion worth of its shares, using half of the $14 billion authorisation approved last December. The new repurchase programme replaces the existing one and brings the authorization back up to $14 billion.

"The plans we announced today demonstrate our ongoing commitment to return cash to shareholders through a growing dividend and share repurchases, and reflect our confidence in our financial strength and the long-term outlook of our business," said Greg Smith, Boeing's chief financial officer and executive vice president of corporate development & strategy.

Share repurchase activity is expected to resume in January 2017. The timing and volume of repurchases are at the discretion of Boeing management, however it is expected that repurchases under the new share authorisation will be made over the next 24 to 30 months.


* required field

Post a comment

Other Stories
Latest News

Living in the city...on Mars

The United Arab Emirates has aspirations that are literally out of this world when it comes to its space industry. In fact, as Steve Nichols reports, it has its eyes firmly fixed on Earth’s nearest neighbour – Mars.

RJ to resume flights to Erbil and Sulaymaniyah

As of April 1, 2018, Royal Jordanian (RJ) will resume its scheduled flights between Amman and each of Erbil and Sulaymaniyah, in northern Iraq.

Pilot schemes to do away with the pilot…

‘Autonomous’ is one of the buzzwords around the industry, as scientific and technical advances come together to convert the science fiction staple of unmanned, passenger-carrying aircraft into science fact. Alan Dron has been

Emirates SkyCargo awarded Cargo iQ certification through external audit

Emirates SkyCargo was presented with its Cargo iQ certification at the World Cargo Symposium in Dallas, Texas, USA.

GE9X engine that will power Boeing’s 777X goes airborne

The GE9XTM engine lifted off on March 13 under wing of GE Aviation's 747 flying testbed in Victorville, California, for its first flight test.

Qatar Airways wins four awards at APEX Passenger Choice Awards Ceremony

Qatar Airways has been awarded the APEX Passenger Choice award for ‘Best Overall Airline: Middle East’; ‘Best Food and Beverage: Middle East'; 'Best Cabin Service: Middle East’; and ‘Best Seat Comfort: Middle East’ by the Airline

TAA SK0902311218
See us at
BIAS BT271017161118MEBAA BT2018Istanbul Airshow BT22018Aviation Africa BT18418AirportShow BT1502090518Global Aerospace BT2018SOFEX BT2018ArabianTravelMkBT250418