Boeing Boosts Dividend 4.8% in First Increase Since 2008
December 13, 2011, 1:34 PM ESTBy Ed Dufner
(Updates with payment terms in second paragraph.)
Dec. 12 (Bloomberg) -- Boeing Co. raised its quarterly dividend 4.8 percent to 44 cents a share, the first increase since 2008 at the world’s largest aerospace company.
The dividend will be payable on March 2 to shareholders of record as of Feb. 10, Boeing said today in a statement. The previous amount was 42 cents a share. A Bloomberg projection called for a new total of 45 cents.
Boeing’s last increase was announced Dec. 15, 2008, when the Chicago-based planemaker raised the amount to 42 cents a share from 40 cents, payable in March 2009. Boeing had struggled since then with delays in its 787 Dreamliner and 747-8 jumbo jet, which entered commercial service this year.
Today’s move came after Morgan Stanley boosted its rating on Boeing to “overweight” from “equal weight.” Boeing fell 1.9 percent to $70.59 at 3:28 p.m. in New York as broad U.S. indexes slumped.
--Editors: John Lear, Ed Dufner
To contact the reporter on this story: Ed Dufner in Dallas at edufner@bloomberg.net
To contact the editor responsible for this story: Ed Dufner at edufner@bloomberg.net
