Aircraft maker The Boeing Company (BA) said Tuesday that it has purchased the remaining 50% stake in an assembly plant used to make the fuselage for its 787 Dreamliner from Alenia North America.
A Boeing subsidiary executed the purchase, which then made Boeing the sole owner of Global Aeronautica LLC. Financial and other terms of the deal have not yet been disclosed.
The workers in the facility will be absorbed into Boeing's North Charleston, South Carolina operations, which lie adjacent to Global Aeronautica's plant. Boeing said that the transaction will help raise productivity within its 787 program.
The Bottom Line
Shares of BA have been recommended since Aug.27, when the stock was trading at $47.82. The company has a dividend yield of 3.09%, based on last night's closing stock price of $54.30.
The Boeing Company (BA) is a "recommended" dividend stock, holding a Dividend.com DARS Rating of 3.5 out of 5 stars.
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