Jim McNerney, chairman, president and chief executive officer of The Boeing Company [NYSE: BA] today announced that Boeing's Board of Directors has approved a 20 percent increase in the company's quarterly dividend, to thirty (30) cents per share. The board last approved a dividend increase on Dec. 13, 2004, from 20 to 25 cents per share.
"The company is paying a higher dividend to its shareholders because of continued strong operational performance and excellent cash generation," McNerney said.
He noted that the company is taking a balanced approach to cash deployment: investing in new technologies and products like the 787 Dreamliner that will deliver future growth; contributing to company pension plans; repaying debt; and sharing the company's success with its shareholders through an ongoing stock re-purchase plan, in addition to the higher dividend.
The latest dividend increase is payable March 3, 2006, to shareholders of record at the close of business on Feb. 10, 2006.