Southwest Airlines Returns Value To Shareholders
Southwest Airlines Co. (NYSE: LUV) (the "Company") announces the Southwest Airlines Board of Directors, at its meeting held today, increased the Company's quarterly dividend by 25 percent and authorized a new
Gary C. Kelly, Chairman of the Board and Chief Executive Officer, stated: "Based on our strong results, cash flow outlook, and investment grade balance sheet, I'm pleased to announce the Board's decision today to increase our quarterly dividend by 25 percent. Annualized, the increased dividend amounts to approximately
"Since 2010, we have invested more than
On May 5, 2017, the Company completed its May 2016
The Company's share repurchases under today's
1Based on approximately 605 million shares of common stock outstanding on May 15, 2017.
2Based on yesterday's closing stock price of
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to (i) the Company's expectations and goals with respect to the return of value to Shareholders and (ii) the Company's financial outlook. These forward-looking statements are based on the Company's current intent, expectations, and projections and are not guarantees of future performance. These statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) the impact of economic conditions, consumer behavior, fuel prices, actions of competitors (including without limitation pricing, scheduling, capacity, and network decisions and consolidation and alliance activities), governmental actions, and other factors beyond the Company's control, on the Company's business decisions, plans, and strategies; (ii) the Company's ability to timely and effectively implement, transition, and maintain the necessary information technology systems and infrastructure to support its operations and initiatives; and (iii) other factors, as described in the Company's filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016.
SW-DSR
SOURCE Southwest Airlines Co.