Boeing Raises Dividend, Relaunches Buybacks
Boeing has lifted its quarterly dividend and resumed its share-buyback program, the company announced in a press release. The dividend increase amounts to 10%, for a total of $0.485 per share. It will be paid on March 8 to shareholders of record as of Feb. 15.
For the repurchase program, the company expects to start spending what remains of the $3.6 billion its board authorized for stock buybacks in late 2007. Boeing expects this program to total $1.5 billion to $2 billion in the course of 2013.
The company quoted CEO Jim McNerney as saying that "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."
The article Boeing Raises Dividend, Relaunches Buybacks originally appeared on Fool.com.Eric Volkman and The Motley Fool have no positions in Boeing. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.