Alaska Air Group, Inc. (ALK) Initiates, Declares $0.20 Quarterly Dividend; 1.4% Yield
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Alaska Air Group, Inc. (NYSE: ALK) initiated and declared a quarterly dividend of $0.20 per share, or $0.8 annualized.
The dividend will be payable on August 22, 2013, to stockholders of record on August 6, 2013, with an ex-dividend date of August 2, 2013.
The annual yield on the dividend is 1.4 percent.
Air Group's quarterly dividend will be financed from operating cash flow and existing cash on hand.
"We're pleased to introduce a dividend as a supplement to our ongoing multiyear stock repurchase program. The combination underscores the board's commitment to build long-term shareholder value," Alaska Air Group President and CEO Brad Tilden said. "Alaska's strong financial results over the past several years have allowed us to pay meaningful bonuses to our employees, profitably reinvest in our business and grow our network while significantly reducing debt, keeping our pensions well funded and returning capital to our owners. We believe these financial results are sustainable and a dividend now makes sense as part of our balanced capital allocation strategy."
The dividend will be in addition to the $250 million stock repurchase program announced in September 2012.
For a dividend history and other dividend-related data on Alaska Air Group, Inc. (ALK) click here.
The dividend will be payable on August 22, 2013, to stockholders of record on August 6, 2013, with an ex-dividend date of August 2, 2013.
The annual yield on the dividend is 1.4 percent.
Air Group's quarterly dividend will be financed from operating cash flow and existing cash on hand.
"We're pleased to introduce a dividend as a supplement to our ongoing multiyear stock repurchase program. The combination underscores the board's commitment to build long-term shareholder value," Alaska Air Group President and CEO Brad Tilden said. "Alaska's strong financial results over the past several years have allowed us to pay meaningful bonuses to our employees, profitably reinvest in our business and grow our network while significantly reducing debt, keeping our pensions well funded and returning capital to our owners. We believe these financial results are sustainable and a dividend now makes sense as part of our balanced capital allocation strategy."
The dividend will be in addition to the $250 million stock repurchase program announced in September 2012.
For a dividend history and other dividend-related data on Alaska Air Group, Inc. (ALK) click here.
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