Alaska Air Group quarterly dividend up 38%

The board of directors of Alaska Air Group (NYSE: ALK) declared a quarterly cash dividend of 27.5 cents per share, payable March 8, 2016 to all shareholders of record as of Feb. 23, 2016, the company said.

This is the third time the company has raised the dividend since initiating it in July of 2013. The average dividend increase has been 40 percent.

Dividends are financed from operating cash flow and cash on hand.

Alaska Airlines, a subsidiary of Alaska Air Group (NYSE: ALK), together with its partner regional airlines, serves more than 100 cities through an expansive network in the United States, Canada, Mexico and Costa Rica.