Saturday, December 4, 2021
65.6 F
Fort Worth

Southwest boosts dividend, announces new share buybacks

🕐 1 min read

HOUSTON (AP) — Southwest Airlines Co. is raising its dividend and buying back more of its own stock.

At its annual meeting Wednesday, Southwest announced a new $1.5 billion share-buyback program and an increase in the quarterly dividend to 7.5 cents per share from 6 cents per share.

Some of the airline’s ground workers picketed outside the meeting to protest the lack of a new contract despite four years of negotiations. The pilots’ union said Tuesday that it was starting to prepare for a potential strike if it can’t get a deal in the next several months.

Unions say they should share in the success of a company that earned a record $1.14 billion last year. Shareholders prospered — the value of their stock jumped 125 percent in 2014. Last month, Southwest reported a record first-quarter profit of $453 million amid steady travel demand and lower fuel costs.

In late-morning trading Wednesday, shares of the Dallas-based airline dropped 34 cents to $41.91. They started the day down 0.2 percent this year.

Related Articles

Our Digital Sponsors

Latest Articles

Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate