Boeing, one of the world's largest aircraft manufacturing companies, increased a share-repurchase plan to $12 billion, the largest in its history, following its 25-percent quarterly dividend increase, Bloomberg reports.
"Strong operating performance across our business continues to generate significant cash flow and financial strength for Boeing," Chief Executive Officer Jim McNerney said in a statement, according to the site.
Following the closing of the trading day, shares increased as much as 2.7 percent to $125.40.
Despite experiencing financial woes in last year, the company has been able to boost its investor confidence levels and eliminate concerns over rising costs of jet fuel.
Boeing is expected to release its newest 777X aircraft in 2017, which is set to include a computer platform controlling its motion. Michigan-based GE Aviation announced on Monday that it would help build the newest platform.
"This is a critical win for GE to supply the avionics computing system for the Boeing 777X, building on the success of our common core system on the 787," GE Aviation official Alan Caslavka said, according Michigan Live.
"With the 787 and now the 777X, we have made future civil and military programs more affordable by resetting the avionics cost curve and doing away with escalating software development costs."
Boeing is known for constructing most of the aircrafts used for popular airlines such as American Airlines, Delta and others. Analysts have suggested the company may begin to focus more attention on airbuses, as consumer demand for increased travel continues to soar.
Boeing was founded in 1916 in Seattle.
