Boeing to pay bigger dividend to shareholders

Herald staff

SEATTLE — Boeing will pay a bigger dividend to shareholders, and plans to further raise the value of its stock by buying back about 10 percent of it.

Boeing’s board of directors approved the moves on Monday.

"Our overall goal is to enhance shareholder value," Chairman and Chief Executive Officer Phil Condit said. "Our solid performance, strong backlog and robust cash flow create these two excellent opportunities to return value to all our shareholders while investing to grow profitably in the future."

The company will pay a fourth-quarter dividend of 17 cents a share, which is a 21 percent increase over the previous quarterly dividend of 14 cents a share.

The payment will be made March 2 to all shareholders of record as of Feb. 9.

The company also will begin buying back some 85 million shares, Condit announced.

The shares will either be bought on the open market or in privately negotiated deals, he said.

Buying back shares can boost stock prices by limiting the number of shares available on the market. It also helps companies boost their earnings per share.

Boeing is now completing a 146 million-share stock buy-back program that began in August 1998.

Talk to us

> Give us your news tips.

> Send us a letter to the editor.

> More Herald contact information.

More in Local News

A big decision for Boeing’s next CEO: Is it time for a new plane?

As Boeing faces increased competition from Airbus, the company is expected to appoint a new CEO by the end of the year.

A Mukilteo Speedway sign hangs at an intersection along the road in Mukilteo. (Ryan Berry / The Herald)
Mukilteo Speedway name change is off to a bumpy start

The city’s initial crack at renaming the main drag got over 1,500 responses. Most want to keep the name.

Two workers walk past a train following a press event at the Lynnwood City Center Link Station on Friday, June 7, 2024, in Lynnwood, Washington. (Ryan Berry / The Herald)
Trains up and running on Lynnwood Link — but no passengers quite yet

Officials held an event at the Lynnwood station announcing the start of “pre-revenue” service. Passengers still have to wait till August.

Nedra Vranish, left, and Karen Thordarson, right browse colorful glass flowers at Fuse4U during Sorticulture on Friday, June 7, 2024, in Everett, Washington. (Olivia Vanni / The Herald)
A promenade through Everett’s popular Sorticulture garden festival

Check out a gallery of the festival’s first day.

Left to right, Everett Pride board members Ashley Turner, Bryce Laake, and Kevin Daniels pose for a photo at South Fork Bakery in Everett, Washington on Sunday, May 26, 2024. (Annie Barker / The Herald)
Second Everett Pride aims for even bigger rainbow of festivities

Organizers estimated about 3,000 people attended the first block party in Everett. This year, they’re aiming for 10,000.

Everett
Motorcyclist dies in crash on East Marine View Drive in Everett

Around 8 p.m. Tuesday, a motorcycle and a vehicle crashed into each other at the intersection of 11th street and East Marine View Drive.

Logo for news use featuring the municipality of Darrington in Snohomish County, Washington. 220118
Motorcyclist dies in crash on Highway 530

Jeremy Doyle, 46, was riding east near Darrington when he crashed into the side of a car that was turning left.

The I-5, Highway 529 and the BNSF railroad bridges cross over Union Slough as the main roadways for north and southbound traffic between Everett and Marysville. (Olivia Vanni / The Herald)
Highway 529 squeeze starts now between Everett, Marysville

Following a full closure for a night, starting late Sunday, Highway 529 will slim down to two lanes for months near the Snohomish River Bridge.

The Marysville School District office on Thursday, Aug. 31, 2023, in Marysville, Washington. (Olivia Vanni / The Herald)
‘Financially insolvent’ Marysville schools to get unprecedented oversight

Superintendent Chris Reykdal will convene a first-of-its-kind Financial Oversight Committee, he wrote in a letter Tuesday.

Woodside Elementary Principal Betty Cobbs on Monday, June 17, 2024 in Bothell, Washington. (Olivia Vanni / The Herald)
Everett’s first Black principal retires after 51 years

In her office, Betty Cobbs kept a black-and-white photo of herself at age 5: “I am right there, with dreams of becoming an educator.”

Junelle Lewis, right, daughter Tamara Grigsby and son Jayden Hill sing “Lift Every Voice and Sing” during Monroe’s Juneteenth celebration on Saturday, June 18, 2022. (Olivia Vanni / The Herald)
On Juneteenth: ‘We can always say that there is hope’

The Snohomish County NAACP is co-sponsoring a celebration Saturday near Snohomish, with speakers, music and food.

A fire marshal takes photos of the back of a home that caught fire on Tuesday, June 18, 2024 in Tulalip, Washington. (Olivia Vanni / The Herald)
Man suffers burn injuries in Marysville house fire

Around 2:30 p.m., firefighters responded to a report of a mushroom cloud coming from a home at 27th Avenue NE and 81st Street NE.

Support local journalism

If you value local news, make a gift now to support the trusted journalism you get in The Daily Herald. Donations processed in this system are not tax deductible.