Hawaiian Holdings, Inc. (NASDAQ: HA), parent company of Hawaiian Airlines, Inc., has announced that it will initiate a quarterly cash dividend, the company said.
The company´s Board of Directors declared a 12 cents per share dividend to be paid on November 30, 2017 to all shareholders of record as of November 17, 2017.
Over the last several years, Hawaiian has steadily grown and diversified revenue while improving earnings and generating free cash flow, which was used to invest in the business and pay down debt. The dividend will be in addition to the USD 100 million share repurchase program announced in April 2017.
As of the end of the third quarter 2017, Hawaiian has repurchased approximately USD 50.5 million in shares. Since 2015, Hawaiian has returned more than USD 218 million to investors while simultaneously paying down debt and cutting its leverage ratio from 4.2 in 2014 to 1.9 as of June 2017.
HawaiianÂ®, the world´s most punctual airline as reported by OAG, has led all US carriers in on-time performance for each of the past 13 years (2004-2016) as reported by the US Department of Transportation. Consumer surveys by CondÃ© Nast Traveler and Travel + Leisure have ranked Hawaiian among the highest of all domestic airlines serving Hawai´i.