On Air Now

Tune in to Listen

93.9 FM Hibbing, MN

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
34° Feels Like: 25°
Wind: SSE 13 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Wintry Mix/Wind 30°

Tomorrow

Ice to Rain/Wind 54°

Sun Night

Partly Cloudy 32°

Alerts

Boeing plans to return 80 percent of free cash to shareholders

A Boeing 787 Dreamliner performs a display flight at the Farnborough Airshow 2012 in southern England July 9, 2012. REUTERS/Luke MacGregor
A Boeing 787 Dreamliner performs a display flight at the Farnborough Airshow 2012 in southern England July 9, 2012. REUTERS/Luke MacGregor

(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.

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)

Comments