17 December 2013
Boeing (NYSE: BA) chairman, president and chief executive Jim McNerney said that the Boeing board of directors has authorized an additional USD10bn for the company´s share repurchase plan and declared that the company´s regular quarterly dividend will increase by approximately 50 percent to 73 cents per share.
“These actions reflect sustained, strong operational performance by our businesses, increasing cash flow, and our confidence in the future,” said McNerney.
The USD10bn repurchase authorization is in addition to the approximately USD0.8bn remaining from the 2007 stock repurchase authorization. Repurchase activity for 2013 is complete and is expected to resume in January 2014.
The timing and volume of repurchases are at the discretion of Boeing management, however it is currently expected that the share repurchases will be made over the next two to three years. Repurchases may be made on the open market or in privately negotiated transactions.
The dividend is payable March 7, 2014, to shareholders of record as of February 14, 2014.
The Boeing Company, together with its subsidiaries, engages in the design, development, manufacture, sale, and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The Boeing Company was founded in 1916 and is based in Chicago, Illinois. The company´s website is at http://www.boeing.com.