Boeing said it repurchased $9 billion in shares this year. The new buyback program will start in January.
Boeing directors authorized a record $20 billion share buyback program and boosted the company’s dividend 20 percent — a sign the planemaker doesn’t intend to stop showering cash on investors any time soon.
—The company’s share price has more than doubled since it embarked on a strategy of rewarding shareholders as production of the marquee 787 Dreamliner stabilized six years ago. Over that time, Boeing has repurchased 230 million of its shares and hoisted its dividend 325 percent.
—Boeing said it repurchased $9 billion in shares this year. By comparison, analysts have speculated that the manufacturer would need to spend about $10 billion to develop a new midrange plane, which would be its first all-new jetliner since the 787.
Most Read Business Stories
- First flight of Boeing's new 777X delayed at least until the fall VIEW
- New Airbus leadership steps out in Paris Air Show, talks climate change and trashes Boeing
- A question at the Paris Air Show: Will Boeing CEO Muilenburg survive?
- Emirates negotiations may deal blow to key Boeing 777X order
- Two Seattle law firms combine to form 180-attorney shop
—Boeing said it expects buybacks under the new plan to begin in January and be made over the next 24 months.
—Boeing shares closed up $11.93, or 3.8 percent, at $328.06 Tuesday. The shares climbed 7.2 percent this year through Monday, compared with a 14 percent decline in a Standard & Poor’s index of U.S. industrial companies.