Boeing has raised the dividend the US planemaker pays to investors by about 50 percent.

The board also approved the buyback of an additional ten billion dollars of shares over the next two to three years – that is about 10 percent of Boeing’s stock.

The company is enjoying a surge in revenue and cash as it ramps up commercial jet production, that is helping offset declining US military spending, which has been hitting earnings at Boeing’s defence businesses.

The increases in dividends and share repurchases “reflect sustained, strong operational performance by our businesses, increasing cash flow, and our confidence in the future,” Boeing Chief Executive Jim McNerney said in a statement.