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
Advertisement
Latest News

First landing on an unpaved Runway for the PC-24

The PC-24 has made its first landing on an unpaved runway.

Turkish Airlines adds Moroni in Comoros to its network

Turkish Airlines added Moroni - the biggest city and the capital of Comoros Union - to its network on 18 June 2018.

Jazeera's DIY terminal

Fed up with your home base’s terminal being overcrowded? Build your own. Alan Dron finds out that Kuwait’s Jazeera Airways has done precisely that.

The sound of silence on the flight deck

Airline pilots can at last benefit from a technology that has changed the world for passengers and general aviation pilots around the world. Alan Peaford travelled to Boston, USA, to visit the Bose Corporation and hear about the

Gulf Air’s double daily Bahrain–London 787-9 Dreamliner service takes off

Gulf Air has launched its double daily Boeing 787-9 Dreamliner service connecting Bahrain International Airport and London, Heathrow.

Etihad Airways passes the biennial IATA Operational Safety Audit

Etihad Airways has successfully passed the biennial IATA Operational Safety Audit (IOSA).

TAA SK0902311218
See us at
BIAS BT271017161118Istanbul Airshow BT22018MEBAA BT1004121218Cargo BT1004091018ASDubai BT1004091018AIME19BTA3005120219GATM BT1004061118