The Boeing board of directors has raised the company’s authorisation for its share repurchase program to $14 billion and declared that the company’s quarterly dividend will increase 20 per cent to $1.09 per share.“Once again, we are demonstrating our commitment to a balanced cash deployment strategy that fuels investments in our people, innovation and growth, and returns significant value to our shareholders,” said Boeing president Dennis Muilenburg.

“Our strategy is rooted in a foundation of strong operating performance across our business, confidence in our team and long-term market outlook and an unmatched portfolio of products and services.”The new $14 billion repurchase authorisation replaces the $12 billion authorisation approved last December, of which $5.25 billion remained.Share repurchases for 2015 have been completed for a year-end total of $6.75 billion.