Boeing (NYSE: BA) announced Monday it will restart its $3.6 billion share repurchase program, with plans to buy back between $1.5 billion and $2.0 billion in stock during 2013.
The company also announced a regular quarterly dividend of 48.5 cents per share, a 10 percent increase.
Shareholders of record as of Feb. 15, 2013 will receive the dividend March 8.
“As returns accelerate on the investments we made in innovative new products, we plan to continue our balanced cash deployment strategy, increasing returns to shareholders, investing in our core businesses and our workforce, and maintaining a strong balance sheet with healthy credit ratings, ” said Jim McNerney, Boeing’s chairman, president and CEO.
Repurchases will start after the company announces its fourth quarter financial results in late January 2013.
Boeing’s board of directors approved the repurchase plan in October 2007 and the company expects this new round to use the remainder of the authorized $3.6 billion.
See our coverage below of other GovCon firms planning share repurchases
- Harris Selling Broadcast Segment for $225M as Part of $200M Share Buyback; William Brown Comments
- Northrop Increases Share Buyback Plan to $2B; Wes Bush Comments
- Exelis Plans $100M Share Repurchase Over Next 4 Years
