Boeing announces $10 billion share buyback, boosts dividend

Boeing announces buyback & dividend increase
Boeing announces buyback & dividend increase   

Boeing authorized a $10 billion share buyback, and said it would raise its dividend by 50 percent to 73 cents a share, the company said Monday.

Shares jumped 1.83 percent in the after-hour trade after the announcement. (What's the stock doing now?)

(Read more: Boeing hits all-time highs despite union rejection)

The $10 billion buyback is on top of the $800 million remaining from a 2007 stock repurchase. Boeing's management plans to buy back shares in the next two or three years.