Southwest Airlines has increased the company's quarterly dividend by 28 percent and authorized a new $2.0 billion share repurchase program. The quarterly dividend will increase to $.16 per share from $.125 per share.
Gary C. Kelly, Chairman of the Board and Chief Executive Officer, stated: "This share repurchase authorization, combined with our annual dividends, reinforces our continued commitment to delivering increased value to Shareholders. We remain committed to maintaining an investment grade balance sheet and strong financial position that enables us to continue to make prudent investments in our People and business to drive long-term profitable growth and sustained brand strength."
The company has repurchased approximately 19.8 million shares under the May 2017 $2.0 billion share repurchase authorization. On April 30, 2018, the company launched a $500 million accelerated share repurchase program.