CHICAGO, Oct. 26 /PRNewswire-FirstCall/ -- Boeing (NYSE: BA) Chairman, President and Chief Executive Officer Jim McNerney reports that the board of directors today declared a regular quarterly dividend of forty two (42) cents per share, payable Dec. 4 to shareholders of record as of Nov. 6.
The board also approved contributing up to $1.5 billion in Boeing common stock to the company's defined benefit pension plans. The contribution activity is expected to be completed in the fourth quarter and will be in lieu of a discretionary cash contribution.
The final value of any stock contribution and the number of shares involved will be determined when the contributions are made. An independent investment manager will manage the shares on behalf of plan participants. By using stock rather than cash, Boeing can bolster its pension plans while preserving its financial flexibility.
Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this report may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "plans," "projects," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements. Forward-looking statements are based upon assumptions about future events that may not prove to be accurate. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak to events only as of the date they are made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws. Specific factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, the effect of economic conditions in the United States and globally, returns on pension fund assets, our ability to adequately fund our operations and our overall financial condition, as well as the other important factors disclosed previously and from time to time in our other filings with the Securities and Exchange Commission.
Contact: Boeing Communications (312) 544-2002
Web site: http://www.boeing.com/