15 May 2014
Southwest Airlines (NYSE: LUV) said its board of directors increased the company´s quarterly dividend by 50 percent and authorized a new USD1bn share repurchase program.
Under the new USD1bn share repurchase authorization, an initial USD200m of Southwest common stock will be repurchased under an accelerated share repurchase program. The quarterly dividend will increase to USD.06 per share from USD.04 per share, beginning with the 151st consecutive quarterly dividend declared TODAY to Shareholders of record at the close of business on June 4, 2014 on all shares then issued and outstanding. The dividend will be paid on June 25, 2014. Annualized, this increased dividend amounts to over USD160m based on approximately 692m1 shares of common stock outstanding.
Southwest Airlines operates passenger airlines that provide scheduled air transportation services in the United States. The company was founded in 1967 and is headquartered in Dallas, Texas. Its website is at http://www.southwest.com.