Related News
Boeing sees confidence in the future
Print Edition
Boeing Co’s board raised the company dividend about 50 percent on Monday and approved US$10 billion in new share buyback authority that the company said it would use in the next two to three years.
The share repurchase represents about 10 percent of Boeing’s outstanding stock, ranking it in the middle of buybacks by large US companies, which are on a stock-buying spree this year.
The increases in dividends and share repurchases “reflect sustained, strong operational performance by our businesses, increasing cash flow, and our confidence in the future,” Boeing Chief Executive Jim McNerney said in a statement.
The new repurchase amount adds to about US$800 million remaining from the company’s 2007 stock repurchase authorization, and buying will begin in 2014, Boeing said. The quarterly dividend is 73 cents per share, up from 48.5 cents.
Boeing is enjoying a surge in revenue and cash as it ramps up commercial jet production, with a target of delivering a record 635 to 645 aircraft this year. Those gains help offset declining US military spending, which is hampering Boeing’s defense businesses.
The company is also preparing to invest billions of dollars in two new models, the narrow-body 737 MAX and the wide-body 777X.
The increased payouts come as the aircraft maker hopes to be able to clinch a labor contract with its unionized machinists that would ensure the 777X is manufactured in the Seattle area.
The 31,000 local union members have rejected Boeing’s offer, largely because it would switch their defined-benefit pension to a 401(k)-style plan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
