Boeing [NYSE: BA] Chairman, President and Chief Executive Officer Jim McNerney reports that the board of directors today declared a regular quarterly dividend of forty two (42) cents per share, payable December 4 to shareholders of record as of November 6.

The board also approved contributing up to US$1.5 billion in Boeing common stock to the company's defined benefit pension plans. The contribution activity is expected to be completed in the fourth quarter and will be in lieu of a discretionary cash contribution.

The final value of any stock contribution and the number of shares involved will be determined when the contributions are made. An independent investment manager will manage the shares on behalf of plan participants. By using stock rather than cash, Boeing can bolster its pension plans while preserving its financial flexibility.