Chicago — Boeing is handing out more goodies to investors already flush from the company’s leap to the top of the Dow Jones Industrial Average — all while plotting its biggest investment since the 787 Dreamliner more than a decade ago. The quarterly dividend would rise 20% to $1.71 a share, Boeing said in a statement Monday, surpassing analyst expectations. Directors also authorised $18bn in share buybacks, up from a $14bn programme they put in place a year ago. CEO Dennis Muilenburg is making good on a promise to return cash gains to shareholders as the carbon-composite Dreamliner has become a rainmaker over the past year, ending years as a cash drain. The aeroplane maker is also speeding factory output as it tries to profit from a record order backlog, which provides a cushion from the cyclical market swings that have hurt other industrial giants such as General Electric. The strategy is nearing its biggest test yet as a major potential investment looms. Boeing directors are study...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.