Archive for Tuesday, December 12, 2000

Boeing sets repurchase, raises dividend

December 12, 2000

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— Aerospace giant Boeing Co. said Monday its board authorized a plan to buy back 10 percent of its outstanding shares and boosted its quarterly dividend.

Boeing, the world's largest plane maker, said the board authorized the repurchase of up to 85 million shares, piggybacking on a 146 million share buyback that was launched in 1998 and is nearing completion.

The Seattle company also declared a fourth-quarter dividend of 17 cents a share, a 21 percent increase from the previous quarterly payout of 14 cents a share.

Boeing shares closed at $68 3/8 on the New York Stock Exchange, down $1 9/16.

Analysts praised the announcements, saying they reflected Boeing's strong cash flow and should bolster the stock price down the road.

Boeing employs more than 16,000 people at Wichita plants, making it one of Kansas' largest private employers.

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