WestJet Airlines has stated that it will start paying a quarterly dividend to shareholders for the first time. The initial quarterly dividend will be five cents per share, to be paid on January 21. WestJet is also prepared to buy back about 7.3 million of its shares – 5% of its outstanding stock.
“Our shareholders have been loyal and supportive of our growth over the years,” says Gregg Saretsky, WestJet’s president and CEO. “We are pleased to announce our dividend and share buyback program and provide our shareholders who continue to believe in our low-cost, high-value airline with an even greater return on their investment.”