NEW YORK (TheStreet) -- Boeing (BA) shares are up 2.03% to $124.56 in trading on Tuesday after the commercial airline and military aircraft vehicle manufacturer announced that it was raising its share buyback program to $12 billion from $10 billion.
Separately, the company also said that it was increasing its quarterly dividend by 25% to 91 cents from 73 cents, thanks in part to the $4.8 billion the company had left over from its previous stock buyback program.
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"Strong operating performance across our business continues to generate significant cash flow and financial strength for Boeing," said CEO Jim McNerney.
Boeing said that it has completed its stock purchases for 2014, spending $6 billion to buyback its shares, and that it will resume repurchases through its new program in 2015. The newly announced program is expected to run for two to three years, according to the company.
TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOEING CO (BA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."