Boeing ups dividend by 50%, okays US$10b buyback plan

[SEATTLE] Boeing Co's board has raised the company dividend by about 50 per cent and approved US$10 billion in new share buyback authority that the company said it will use in the next two to three years.

The share repurchase represents about 10 per cent of Boeing's outstanding stock, ranking it in the middle of buybacks by large US companies, which are on a stock-buying spree this year.

Boeing shares rose about 2 per cent in extended trading after the news. They closed at US$134.72 on the New York Stock Exchange on Monday.