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Boeing raising dividend, restarting stock buyback program

Post by John Gillie / The News Tribune on Dec. 17, 2012 at 3:22 pm with No Comments »
December 17, 2012 3:23 pm

With its production system finally expanding smoothly, Boeing Monday revealed plans to increase its quarterly dividend by 10 percent and reviving a stock buyback program to repurchase some $2 billion in stock next year.

The company doesn’t intend to issue the dividend before the end of the year as some other companies have done to dodge potential taxes increases designed to cut the federal deficit.

The company said it will increase the dividend to 48.5 cents a share. The dividend is payable on March 8 to shareholders of record on Feb. 15.

“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,” Boeing chief executive Jim McNerney said in a statement.

Boeing also could be looking to give its stock, which has been trapped in the doldrums for months, an upward bounce despite good earnings news and a big increase in orders and deliveries of its commercial airplanes.

Shares of Chicago-based Boeing dipped 0.07 percent to $74.60 in extended trading Monday afternoon. The stock closed at $74.65 during regular trading, leaving it up 1.7 percent on the year.

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