Boeing Hikes Quarterly Dividend 30%
Thanks to an increase in aircraft orders and production plus improved profitability for the 787 Dreamliner line, Boeing announced that the company’s quarterly dividend would increase by 30% to $1.42 per share.
“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,” said Dennis Muilenburg, the company’s CEO.=
Boeing has consistently paid its shareholders a dividend for over 75 years. The quarterly payment has gone up some 190% over the past four years, including a 50% increase three years ago. The new dividend will be payable on March 3, 2017 to shareholders of record as of February 10, 2017.
The board also announced it will replace the company’s existing share repurchase program with a new $14 billion one. Share purchase activity is expected to recommence early next year.
(Photo: Accura Media Group)