13 May 2014
The board of directors of Alaska Air Group (NYSE: ALK) said it has approved a share repurchase program authorizing the company to buy back up to USD650m of its common stock.
This share repurchase program represents approximately ten percent of the market capitalization of the company.
The board also approved a quarterly cash dividend of USD0.25 per share as part of Air Group´s program to be a leader in returning capital to investors. The dividend to all shareholders of record as of May 20 will be paid on June 4.
Air Group began paying a quarterly dividend of 20 cents per share in August 2013, the first time since 1992 that the company had paid a dividend. It was increased to 25 cents per share this past February.
Alaska Airlines, a subsidiary of Alaska Air Group (NYSE: ALK), together with its partner regional airlines, serves nearly 100 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico. For reservations, visit www.alaskaair.com.