Boeing Results Share Buybacks, Boosts Dividend
CHICAGO (AP) — Boeing Co. says it will buy back $1.5 billion to $2 billion of its shares next year, and it is boosting its dividend.
Boeing says the buybacks and higher dividend are possible because it is generating cash and has a positive growth outlook. Boeing shareholders have been waiting to benefit from its new 787 plane.
The share repurchases will use up the rest of the money authorized for that purpose by Boeing’s board in 2007.
Boeing also raised its dividend 10 percent, to 48.5 cents per share. It will be paid on March 8 to shareholders of record on Feb. 15.
Boeing shares have traded between $66.82 and $77.83 over the past 52 weeks. On Monday they rose 63 cents to close at $74.65.
– Copyright 2012 The Associated Press