Boeing hikes share buybacks to $12bn, raises dividend

GMT 02:28 2014 Tuesday ,16 December

Arab Today, arab today Boeing hikes share buybacks to $12bn, raises dividend

Boeing taken at Le Bourget airport
New York - AFP

US aerospace giant Boeing on Monday announced a $12 billion share repurchase plan and a 25-percent hike in its quarterly dividend to investors.
The Boeing board decided to replace the 2013 buyback plan, of which about $4.8 billion remains, the company said in a statement.
For 2014, buyback activity is complete at $6 billion; repurchases were expected to resume in January.
The company's regular dividend was raised to 91 cents per share from 73 cents, marking an 88 percent increase over the past two years.
"Strong operating performance across our business continues to generate significant cash flow and financial strength for Boeing," said Jim McNerney, Boeing chairman and chief executive, in the statement.
McNerney also highlighted "the solid growth outlook for commercial aviation."
In the year to date on December 2, Boeing had 1,274 net orders for commercial aircraft and delivered 647.
It is well ahead of European rival Airbus, which had 1,031 net orders and 554 deliveries at the end of November.
Shares in Dow member Boeing, which had gained 1.1 percent Monday, added 2.4 percent in after-market trade.

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