Southwest Airlines Co. (NYSE: LUV) board of directors has increased the company´s quarterly dividend by 25%, and authorized a new USD 2.0bn share repurchase program, the company said.
The quarterly dividend will increase to USD 0.125 per share from USD .10 per share.
The 163rd consecutive quarterly dividend will be paid on June 28, 2017 to shareholders of record at the close of business on June 7, 2017.
Dallas-based Southwest Airlines (NYSE: LUV) operates a network of 101 destinations in the United States and eight additional countries with more than 3,900 departures a day during peak travel season. Its 54,000 employees serve more than 100 million customers annually.