Southwest Airlines Maintains Quarterly Dividend Rate

Southwest Airlines Co. LUV said that its Board has declared a quarterly cash dividend of $0.10 per share to its Shareholders. It paid the same dividend in the previous quarter too. The company has fixed the record date of August 18 for determining the eligible shareholders.

Southwest said that the latest quarterly dividend marketed the 160th straight dividend and would be paid on September 8. The dividend offered only 1.10 percent yield and was above the five-year average yield of 0.60 percent.

The dividend also represented ten percent of payout ratio compared to the 11 percent in the average five-year period. It has been boosting its dividend pace in the last four straight years. As a result, the three-year average dividend growth rate was 75.4 percent.

Shares traded down by 0.32 percent at $37.36 on Thursday.