The Boeing Company logo is projected on a wall at the “What’s Next?” conference in Chicago, Illinois, U.S., October 4, 2016. REUTERS/Jim Young
December 11, 2017
(Reuters) – Boeing Co <BA.N> said on Monday it would raise its quarterly dividend by 20 percent and replace its existing share repurchase program with a new $18 billion authorization.
The company said it would pay a quarterly dividend of $1.71 per share from $1.42 earlier. The new dividend is payable on March 2.
The world’s biggest maker of jetliners said the new repurchase program would replace a $14 billion authorization approved in December 2016, under which it had repurchased $9.2 billion.
The company said it expects to complete the new buybacks in the next 24-30 months.
Boeing’s shares were up 1.2 percent in after-market trading on Monday.
The stock is the top performer on the Dow Jones Industrial Average <.DJI> this year with its stock rising 84 percent. The index is up 24 percent in the same period.
(Reporting by Uday Sampath in Bengaluru’ Editing by Sriraj Kalluvila)
