Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Alaska Air Group starts quarterly dividend

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Associated Press
Published:
SEATTLE -- Alaska Air Group, which operates Alaska Airlines and Horizon Air, said Thursday that it will pay a quarterly dividend for the first time.
The 20-cent dividend will be paid on Aug. 22 to shareholders of record on Aug. 6.
The announcement comes after Delta Air Lines Inc. said in May that it will begin paying a quarterly dividend of 6 cents. Delta also boosted its stock repurchase program at that time. Before Delta's dividend initiation, Southwest Airlines Co. was the only major U.S. airline to offer a dividend. Southwest said in May that it was raising its quarterly dividend and increasing its buyback to $1.5 billion from $1 billion.
The company said that the dividend will be financed from available cash and operating cash flow. It comes in addition to a $250 million repurchase program that started in September.
Alaska Air Group Inc. said that it is about a quarter of the way through the repurchase program, which it anticipates completing by 2014's end. The company has bought back more than $370 million of its stock since 2006 and paid down debt as well.
Shares of Alaska Air Group added $1.49, or 2.6 percent, to $59.03 in midday trading Thursday.

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup