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VOL. 129 | NO. 95 | Thursday, May 15, 2014

Southwest Airlines Makes Buyback, Lifts Dividend

AP

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NEW YORK (AP) – Southwest Airlines is raising its quarterly dividend to 6 cents from 4 cents and plans to buy back $1 billion in company stock.

The Dallas company says the moves reflect its strong financial performance and cash outlook. It will buy back $200 million in stock through an accelerated repurchase program.

Southwest says its next dividend will be paid June 25 to shareholders of record on June 4.

In April Southwest said its net income more than doubled and reached record levels. The company is alone among major U.S. carriers in being consistently profitable for many years, and for a time it was the only major U.S. airline to pay a dividend. It raised its dividend to 4 cents from a penny a year ago.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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PROPERTY SALES 86 313 4,762
MORTGAGES 97 409 6,640
FORECLOSURE NOTICES 34 147 1,475
BUILDING PERMITS 0 705 11,294
BANKRUPTCIES 53 311 4,525
BUSINESS LICENSES 41 177 1,983
UTILITY CONNECTIONS 64 436 6,253
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