Shares of Boeing (BA) are in focus on Tuesday morning after the company announced plans for a cut in 777 production to five planes from seven per month, beginning next August. Separately, the aerospace firm said it would raise its quarterly dividend by 30% and also unveiled a $14B stock buyback plan.

777 PRODUCTION DECREASE: Boeing will lower the jet production rate of the 777 jetliner to five airplanes per month from the current rate of seven in August 2017, The Seattle Times reported, citing a message to employees sent from Elizabeth Lund, the vice president responsible for the 777 program. Lund commented that while the exact number of affected positions has not yet been determined, the company “will do our best to lessen the impact.” Lund also noted that, despite “tireless work by the sales team, orders have slowed.” According to a Fortune report, the production decrease will have a “modest” impact on Boeing’s 2016, but Boeing isn’t planing to adjust its guidance for fiscal 2016. Boeing Chief Executive Dennis Muilenburg said in October that Boeing could reduce 777 production, but not to fewer than five planes a month. According to its website, Boeing has received 17 orders for 777s this year as of December 1.

DIVIDEND, BUYBACK PLAN NEWS: Despite the decrease in its 777 production rate, Boeing yesterday announced a 30% increase in its quarterly dividend to $1.42. The board also replaced its existing share repurchase plan with a new $14B authorization. Chief Financial Officer Greg Smith said these plans demonstrate Boeing’s commitment to return cash to shareholders, “and reflect our confidence in our financial strength and the long-term outlook of our business.” Share repurchases are expected to resume in January, the company said.

WHAT’S NOTABLE: Boeing and Iran Air announced Sunday an agreement for 80 aircraft that includes 50 737 MAX 8s, 15 777-300ERs and 15 777-9s, valued at $16.6B at list prices. Separately in news for Boeing, president-elect Donald Trump tweeted last week that the latest Air Force One order placed with Boeing should be canceled. Speaking briefly at Trump Tower following his tweet, the President-elect cited the high costs of converting the Boeing jumbo jet for presidential use as the reason for a possible deal cancellation. “We want Boeing to make a lot of money, just not that much money,” Trump said. In response, the jetmaker said it looks forward to working with the U.S. Air Force “to deliver the best planes for the President at the best value for the American taxpayer.”