Boeing

The Boeing Company (NYSE: BA) announced that its board of directors today authorized a new share repurchase program and declared a second-quarter dividend of twenty-five (25) cents per share. The authorization is for the repurchase of up to 40 million shares, or approximately five percent of the company's outstanding shares of common stock.

"Our overall goal is to achieve sustained value creation for our shareholders through the balanced deployment of our solid cash flow," said Boeing President, Chief Executive Officer and Chief Financial Officer James A. Bell. "Boeing's strong financial and operating performance and growing backlog continue to provide opportunities to return value to our shareholders while investing to grow profitably in the future," Bell said.

Boeing also expects to complete repurchasing the 10 million shares remaining under its current authorization, which was approved by the board of directors in December 2000.

The company's share repurchases will be made on the open market or in privately negotiated transactions. The number of shares to be purchased and the timing of the purchases will be based on the level of cash balances, general business conditions and other factors, including alternative investment opportunities.

The share repurchases will be used for general corporate purposes, including the company's share-based plans and other employee stock benefit plans.

Boeing's second-quarter 2005 dividend is payable on September 2, 2005 to shareholders of record on August 12, 2005.