Boeing plans to return 80 percent of free cash to shareholders

Reuters

Boeing Co said on Wednesday that it plans to return about 80 percent of its free cash flow to shareholders through dividends and share buy-backs.

Speaking at an investor conference, Boeing Chief Financial Officer Greg Smith said the cash deployment move, a step up from current levels of cash return, won't reduce its cash balance of about $11 billion.

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The company forecasts generating more than $8 billion in operating cash flow this year. In December, the company raised its dividend 10 percent to 48.5 cents per share quarterly and said it would spend $1.5 billion to $2 billion in 2013 on share buy-backs.

(Reporting by Alwyn Scott; Editing by Gerald E. McCormick)