Southwest Airlines Announces Increase In Dividend And Share Repurchase Authorization

Southwest Airlines' LUV Board of Directors, at its meeting held today, declared an increase in the quarterly dividend and increased the Company's share repurchase authorization to $1 billion. At the Company's Annual Meeting of Shareholders today, Gary C. Kelly, Chairman of the Board, President, and CEO, stated: "I am pleased to announce the Board's decision today to increase the quarterly dividend to $.01 per share from $.0045 per share. The Board also increased the Company's previous $500 million share repurchase authorization to $1 billion. Both actions reflect the Board's confidence in Southwest Airlines and its ongoing commitment to enhance Shareholder value." The increase in the quarterly dividend will begin with the 143rd dividend declared today to Shareholders of record at the close of business on June 6, 2012 on all shares then issued and outstanding to be paid on June 20, 2012.