The bulk of proceeds stem from the Embraer SA’s recent deal with Boeing, wherein the latter took a 80% stake in the commercial aircraft business of Embraer. The move is expected to reshape the global passenger aircraft industry.

As per a report from Brazilian newspaper Valor Econômico, Embraer SA, Brazilian planemaker Embraer SA plans on distributing $1.6 billion to $1.7 billion in extraordinary dividends to its shareholders.

It received the amounts from its recent deal with Boeing Co.

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Tags: Boeing Co, Brazil, Brazilian, commercial aircraft business, deal, Embraer SA, extraordinary dividends, global, newspaper, passenger aircraft industry, planemaker, purchase stake, reshape, Valor Econômico