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

More in Local News

NO CAPTION NECESSARY: Logo for the Cornfield Report by Jerry Cornfield. 20200112
No right turns on red gets a look, a bid to expand sports betting arrives

It’s a new week. Here’s what’s happening on Day 22 of the 2023 session of the Washington Legislature

A man was injured and a woman found dead Sunday night after an RV fire in Marysville. (Marysville Fire District)
Woman dead, man burned in Marysville RV fire

The Snohomish County Fire Marshal’s Office and Marysville Police Department were investigating the cause of the fire.

The final 747 is revealed during a celebration in Everett, Washington on Tuesday, Jan. 31, 2023. The plane was rolled out Dec. 6 from the Everett assembly factory and delivered to the customer, Atlas Air. (Annie Barker / The Herald)
‘Still jaw-dropping’: Last Boeing 747 takes the stage in Everett

Thousands, including actor John Travolta, gathered at Boeing’s Everett factory to bid goodbye to the “Queen of the Skies.”

Logo for news use, for stories regarding Washington state government — Olympia, the Legislature and state agencies. No caption necessary. 20220331
Lobbyist barred from WA Capitol after ruling he stalked representative

State Rep. Lauren Davis, D-Shoreline, obtained a domestic violence protective order against longtime lobbyist Cody Arledge.

(Lake Stevens School District)
Charges dropped for Lake Stevens teacher accused of harassing student

Prosecutors won’t pursue misdemeanor sexual assault charges against Mark Hein, who “has been absolved of wrongdoing,” his attorney said.

Karla Wislon holds a champagne glass while celebrating the closing sale of her home in Palm Springs, Ca. on May 14, 2021. (Family photo)
Former state Rep. Karla Wilson, 88, remembered as ‘smart, energetic’

Wilson served the 39th Legislative district from 1985 to 1991. She died Dec. 31.

Federal agents seized many pounds of meth and heroin, along with thousands of suspected fentanyl pills, at a 10-acre property east of Arlington in mid-December 2020. (U.S. Attorney’s Office) 20201223
Leader of Snohomish County fentanyl, meth ring gets federal prison

A search of Cesar Valdez-Sanudo’s property in Arlington unearthed kilos of drugs and hundreds of thousands of dollars.

Logo for news use featuring Whidbey Island in Island County, Washington. 220118
Port of Coupeville to make offer on Oak Harbor airport

The Port of Coupeville continues to pursue ownership of the A.J. Eisenberg Airport near Oak Harbor.

James Lewis
COVID still ‘simmering’ in the county, while booster uptake remains low

Meanwhile, flu and RSV cases have plummeted, suggesting the “tripledemic” could — emphasis on “could” — be fading.

Most Read