Boeing Chairman and Chief Executive Jim McNerney announced today that the Boeing board of directors increased the company's authorization for its share repurchase plan to $12 billion and declared that the company's regular quarterly dividend will increase by 25 percent to 91 cents per share.
The $12 billion repurchase authorization approved today replaces the authorization approved in 2013 of which approximately $4.8B was remaining. Repurchase activity for 2014 is now complete at $6B and is expected to resume in January 2015.
The timing and volume of repurchases are at the discretion of Boeing management, however it is currently expected that the share repurchases will be made over the next two to three years. Repurchases may be made on the open market or in privately negotiated transactions.
Boeing's new dividend represents an 88 percent increase over the past two years.
The dividend declared today is payable March 6, 2015, to shareholders of record as of February 13, 2015.
Source and image: Boeing
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