The Boeing [NYSE: BA] board of directors today approved a 14 percent increase in the company's dividend, the fifth increase in the past five years.
Boeing's quarterly dividend will now be 40 cents per share, up from 35 cents, while the annual dividend will be $1.60 per share. The next dividend is payable March 7, 2008 to shareholders of record as of Feb. 8.
"This dividend increase reflects our strong financial performance, record backlog and significant liquidity," said Boeing Chairman, President, and Chief Executive Jim McNerney. "Our concurrent focus on growth and productivity continues to drive strong financial results, and our balanced cash deployment strategy is serving Boeing and its shareholders well."
Boeing's dividend has more than doubled since 2003.