Boeing Chairman, CEO cut salary for 2020, company slashes dividends to bolster finances

[Yo_Mama_Been_Loggin]

After facing wave of criticism all week, Boeing said late Friday its chairman and CEO will forgo their pay for the rest of 2020, matching moves that many airline CEOs made several days ago.

The Chicago-based jet maker also said it's suspending its shareholder dividend "until further notice." Boeing paid $4.6 billion in dividends during last year, according to financial cash flow statements, laid out in annual securities filings.

The company announced the decisions to preserve cash and support the aerospace giant as it navigates through the COVID-19 pandemic.

It's also grappling with the yearlong and global grounding of its 737 Max fleet and subsequent factory halt.

Earlier this week, the jet maker heard mounting criticism from aerospace analysts and others who said it was wrong for Boeing to seek a $60 billion bailout until it had cut its top executive salaries and suspended dividends.

https://www.bizjournals.com/seattle/news/2020/03/20/boeing-chairman-ceo-cut-salary-for-2020.html

[still_one]

1. That is the least they should do

[hatrack]

2. "Preserve Cash" - yeah, that's rich. Since 2013 they spent $43 BILLION on stock buybacks

https://ww.marketrealist.com/2019/06/boeing-enhances-shareholder-wealth-through-share-repurchases/#aprd

[Sherman A1]

3. Nice

Window Dressing.