The board of directors at Boeing (NYSE: BA) has approved an increase in the company’s share repurchase authorization to as much as $14 billion of common stock for the next two to three years.
Boeing said Monday it has bought back $6.75 billion in shares and has about $5.25 billion remaining on a prior $12-billion buyback authorization initiated in December last year.
The company is scheduled to resume its stock repurchase activity next month.
The board also agreed to increase Boeing’s quarterly dividend by 20 percent to about $1.09 per share and stockholders of record as of Feb. 12, 2016, will be paid the dividend on March 4.
Shares in Boeing closed at $143.00 Monday and the company’s 52-week range is $115.46 to $158.83.
The stock was up 10 percent from the year’s start and has risen 18.4 percent over 12 months.