Alaska Air Group (NYSE: ALK) disclosed that its board has declared a regular quarterly cash dividend of $0.275 per share. That meant that the company has paid 13 percent of its profit as a dividend to its shareholders.
The company boosted its dividend for two straight years. The current dividend would be paid on June 7 to all its shareholders. The company has fixed the record date of May 24 to determine the eligible shareholders. The company indicated that the dividends were funded from its operating cash flow, as well as cash on hand.
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Alaska Air Group's current dividend offered a yield of 1.7 percent. The lower percentage of payout ratio suggested that there would be enough scope to boost the dividend rate, subject to the profit sustainability.
On Friday, the stock traded 0.81 percent higher.