Boeing's Stock Rallies After Company Increases Share Buybacks, Dividend
Shares of Boeing jumped 2.4% in after-hours trade Monday, after the aerospace giant said it increased its stock repurchase program to $12 billion and will raise its quarterly dividend by 25%. Boeing said there was still $4.8 billion remaining in its previous share repurchase program. The company said it has bought back $6 billion worth of its stock in 2014, and will resume share repurchases in January. The new dividend of 91 cents a share, up from 73 cents, will be payable March 6 to shareholders of record on Feb. 13. The stock, a component of the Dow Jones Industrial Average, has lost 11% year to date through Monday, compared with a 3.6% gain in the Dow.
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