Southwest Airlines Reinstates Dividend That Was Suspended In 2020

Southwest Airlines Reinstates Dividend That Was Suspended In 2020
  • Southwest Airlines Co LUV Board of Directors reinstated and declared a quarterly cash dividend of $0.18 per share.
  • The dividend is payable on January 31, 2023, to shareholders of record on January 10, 2023.
  • The company suspended its dividend distribution from early 2020 through the third quarter of 2022 due to the uncertainties of the pandemic.
  • The quarterly dividend of $0.18 per share, or $0.72 per share annualized, is equivalent to its dividend prior to the pandemic.
  • The quarterly dividend which is the company's 175th, will be paid on January 31, 2023.
  • "Today's announcement reflects the strong return in demand for air travel and the Company's solid operating and financial results since March 2022," said CEO Bob Jordan.
  • Southwest held $13.7 billion in cash and equivalents as of September 30, 2022.
  • Price Action: LUV shares are trading lower by 0.45% at $39.50 in premarket on the last check Wednesday.
  • Photo Via Company
Posted In: AirlinesBriefsIndustrialsNewsDividendsGeneral