Boeing's dividend & stock split history explained

Boeing is the world's biggest maker of commercial and military aircraft. In the past decade, it went from posting its largest annual profit in its more than 100-year history to posting its biggest annual loss just two years later

Here's what happened to Boeing's history of dividend payments and stock splits.

Boeing's revenues and earnings

Before delving into Boeing's history of dividend payments, analyzing its annual reports in recent years is key. Boeing lost more money - to the tune of tens of billions of dollars - than it earned in the decade from 2015 to 2025 due to rising production costs, order cancellations, and charges related to the temporary grounding and the suspended production and deliveries of its problematic 737 MAX line of commercial aircraft.

Revenue peaked in 2018, at $101 billion, but dropped precipitously to $76.5 billion in 2019 mainly because of the grounding and lower deliveries of 737 MAX aircraft following accidents of 737 MAX aircraft in Indonesia and Ethiopia. The company posted a record annual profit of $10.46 billion in 2018, but just two years later, in 2020, COVID-19 disrupted production, and it posted a record $11.9 billion loss.

Boeing revenue, earnings & losses 2015–2025

Source: Boeing

Related: Boeing stock ownership: Institutional and executive shareholders

Why did Boeing stop paying dividends?

In March 2020, just as COVID-19 began to upend global economic activity, Boeing suspended dividend payments due to financial constraints. Uncertainties over the impact of COVID-19 (and its commercial aircraft business - mainly the 737 MAX) were significant contributors to its cash preservation initiative.

Through the calendar year ending in December 2020, it paid $1.2 billion in dividends, down from $4.6 billion in 2019 and $3.9 billion in 2018.

At the same time, Boeing also suspended its stock repurchase program. No shares were bought back in 2020, compared to repurchases of $2.7 billion in 2019 and $9 billion in 2018.

As a result of borrowing and its decisions on the stock repurchase program and dividend payment policy, its cash from financing activities increased, reaching $35 billion in 2020, compared to $5.7 billion in 2019. Still, Boeing said the higher debt balance in 2020 led to downgrades in its credit ratings.

How often did Boeing pay dividends?

Boeing stopped paying dividends in the third quarter of 2020, and as of early May 2026, there have been no indications of a resumption of payment despite a profitable 2025 ($2.2 billion).

Prior to that, Boeing had been paying dividends every year since 1942. (Its first dividend payment was in 1937.) In 2018 - the last year the aircraft maker had posted a profit until 2025 - its payout ratio, which is total cash dividend payments divided by annual earnings per share, was 40%. By comparison, Home Depot - the biggest home improvement retailer in the U.S. - had a dividend payout of 42% in its fiscal 2018.

More on Boeing:

• How many employees does Boeing have?
• Boeing's tumultuous company history: 12 CEOs in 11 decades
• History of Boeing: Timeline and Facts

Boeing's history of stock splits

Boeing became a publicly traded company in 1962, and since then it has conducted eight stock splits. Its first stock split was on May 17, 1966, when two shares were awarded for every one held. Its last split was a 2-for-1 on June 6, 1997.

Consequently, the share price has risen from $54.94 on June 6, 1997, to $221.30 in early May 2026, for a 302% increase. As of May 2026, Boeing hasn't given any suggestion that it plans to split its shares anytime soon, despite the rise in share price.

Boeing's stock split history

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This story was originally published May 6, 2026 at 7:05 AM.