The Boeing (NYSE: BA) board of directors has raised the company´s authorization for its share repurchase program to USD14 billion and declared that the company´s quarterly dividend will increase 20 percent to USD1.09 per share, the company said.
The new USD14 billion repurchase authorization replaces the USD12 billion authorization approved last December, of which USD5.25 billion remained. Share repurchases for 2015 have been completed for a year-end total of USD6.75 billion.
Repurchase activity is expected to resume in January 2016. The timing and volume of repurchases are at the discretion of Boeing management, however it is expected that repurchases under the new share authorization will be made over the next two to three years.
Boeing has increased the dividend for five consecutive years and has paid a dividend consistently for more than 75 years.
The dividend declared today is payable March 4, 2016, to shareholders of record as of Feb. 12, 2016.