Boeing resumes $3.6 billion share repurchase program
NEW YORK (Reuters) - Boeing Co(BA.N) said Monday it will raise its dividend 10 percent and resume share repurchases after suspending them in 2009.
The Chicago-based aerospace company set a regular quarterly dividend of 48.5 cents per share, payable on March 8, meaning Boeing will not join Wal-Mart Stores Inc (WMT.N) and other companies that decided to issue dividends in December to avoid the looming possibility of a tax increase in the new year.
Boeing said it would spend between $1.5 billion and $2 billion in 2013 on share repurchases. The purchases were authorized in 2007 as part of a $7 billion buy-back plan that was halted in 2009 with $3.6 billion remaining.
A Boeing spokesman said there was no further guidance on when the remaining $1.6 billion to $2.1 billion would be spent.
(Reporting by Alwyn Scott; Editing by Dan Grebler)