in Business & Finance

Boeing Board raises dividend, renews share repurchase authorisation

Posted 13 December 2016 · Add Comment

The Boeing board of directors has declared the company's quarterly dividend will increase 30 percent to $1.42 per share. The board also replaced the existing share repurchase programme with a new $14 billion authorisation.

 

"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. At the same time, Boeing is continuing to invest in our people, innovation and growth as part of a balanced cash deployment strategy," said Boeing Chairman, President and chief executive officer Dennis Muilenburg.

The company has consistently paid a dividend to shareholders for more than 75 years and has raised the quarterly payment about 190 percent over the past four years. The new dividend will be payable March 3, 2017 to shareholders of record as of Feb. 10, 2017.

Share repurchases for 2016 have been completed. In all, the company this year bought back $7 billion worth of its shares, using half of the $14 billion authorisation approved last December. The new repurchase programme replaces the existing one and brings the authorization back up to $14 billion.

"The plans we announced today demonstrate our ongoing commitment to return cash to shareholders through a growing dividend and share repurchases, and reflect our confidence in our financial strength and the long-term outlook of our business," said Greg Smith, Boeing's chief financial officer and executive vice president of corporate development & strategy.

Share repurchase activity is expected to resume in January 2017. The timing and volume of repurchases are at the discretion of Boeing management, however it is expected that repurchases under the new share authorisation will be made over the next 24 to 30 months.

* required field

Post a comment

Other Stories
Advertisement
Latest News

SAA retains 4-Star Skytrax ranking

South African Airways (SAA) has maintained a 4-Star Skytrax ranking, in both Business and Economy Class, for a 16th consecutive year.

Aviation Africa 2018: Cyber security: Not if, but when

An airline’s greatest cyber-security threat may also be its most precious asset – its staff – according to panellists speaking at Aviation Africa in Cairo. Victoria Moores reports.

Aviation Africa: MROs eye tremendous market in Africa

Speaking at the Aviation Africa MRO panel Hisham Ali, consultant to the Chairman of Egypt Air, said that African MRO market is growing. Africa represents four percent of the global 25,368 fleet and 3.9 percent of global 75.6 billion USD

Aviation Africa 2018 gets under way in Cairo

The Aviation Africa Summit and Exhibition 2018 is under way in Cairo with over 980 delegates and visitors at the two-day event.

On board with quality

Systems manufacturer Liebherr-Aerospace enjoys an unblemished reputation for quality, thanks to hard work, continuous investment and a long-term vision. Chuck Grieve has been finding out more.

Airbus pushes mission-critical standard solutions for 5G networks

Airbus will intensively contribute to the next steps in finding a global standard for mission-critical multimedia group communication.

TAA SK0902311218
See us at
AirCargoAFA_BT220318210219AAD2018 BTGlobal Aerospace BT010518