Boeing dividend up 10%; stock buyback resumes

Herald staff

The Boeing Co. is upping its regular quarterly dividend by 10 percent to 48.5 cents per share, the company announced Monday.

Boeing also is resuming its stock repurchase program, which is expected to total between $1.5 billion and $2 billion in 2013.

“Strong cash generation, consistently solid core operating performance and a positive growth outlook enable us to take these steps to deliver value for our shareholders,” Jim McNerney, Boeing’s chief executive, said in a statement.

The repurchase program is expected to use the remaining $3.6 billion previously authorized by the Boeing board of directors in 2007. Boeing plans to begin repurchasing shares following its fourth-quarter earnings announcement in late January 2013.

The dividend is payable March 8, 2013, to shareholders of record as of Feb. 15, 2013.