Delta Raises Dividend, Plans Wrap Up of Repurchase Program
May 16 2016 - 3:20PM
Dow Jones News
Delta Air Lines Inc., the nation's No. 2 airline by traffic,
said it would boost its annual dividend and finish off a $5 billion
stock-buyback program in May of next year.
In a presentation to analysts, the Atlanta-based airline said it
would increase the annual dividend to 81 cents from 54 cents
beginning in the September quarter, marking the third consecutive
50% increase to the payment since 2013.
Delta also said it would wrap up its latest stock-repurchase
plan, launched last year, by making $3 billion in purchases in the
coming year. The airline unveiled a $5 billion authorization in May
of 2015. Delta said it plans to make $375 million in accelerated
share repurchases during the quarter ending in June. The company
has a market valuation of roughly $32 billion.
Delta edged United Continental Holdings Inc. in 2015 to become
the nation's No. 2 airline based on traffic figures for the
year.
Delta said it ended the year with 209.6 billion miles flown by
paying passengers, up 3.3% from the prior year. The company's
shares rose about 3.1% in afternoon trading to $42.88.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
May 16, 2016 15:05 ET (19:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Delta Air Lines (NYSE:DAL)
Historical Stock Chart
From Apr 2024 to May 2024
Delta Air Lines (NYSE:DAL)
Historical Stock Chart
From May 2023 to May 2024