On Thursday, airline operator Alaska Air Group, Inc. (ALK) announced that its board has approved its first-ever quarterly dividend.
The company has declared a dividend of 20 cents per share, or 80 cents annualized.
The dividend will be paid on August 22 to shareholders of record on August 6. The stock will go ex-dividend on August 2.
Alaska Air Group President and CEO Brad Tilden said, “we’re pleased to introduce a dividend as a supplement to our ongoing multiyear stock repurchase program. The combination underscores the board’s commitment to build long-term shareholder value.”
“Alaska’s strong financial results over the past several years have allowed us to pay meaningful bonuses to our employees, profitably reinvest in our business and grow our network while significantly reducing debt, keeping our pensions well funded and returning capital to our owners. We believe these financial results are sustainable and a dividend now makes sense as part of our balanced capital allocation strategy,” added Tilden.
Alaska Air Group shares were mostly flat during Thursday morning trading. The stock is up 34% YTD.
The Bottom Line
Shares of Alaska Air Group, Inc. (ALK) have a 1.36% yield, based on Thursday morning’s price of $58.72.
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