Alaska Air Group Increases Quarterly Dividend by 38%

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Jan 21, 2016, 08:00 ET

SEATTLE, Jan. 21, 2016 /PRNewswire/ --The board of directors of Alaska Air Group (NYSE: ALK) declared a quarterly cash dividend of 27.5 cents per share, payable March 8, 2016 to all shareholders of record as of Feb. 23, 2016. This is the third time the company has raised the dividend since initiating it in July of 2013. The average dividend increase has been 40%.

"Alaska Air Group is producing record results and we are excited about our future. We are delighted to increase the capital we are returning to our owners," said CEO Brad Tilden.

Dividends are financed from operating cash flow and cash on hand.

Alaska Airlines, a subsidiary of Alaska Air Group (NYSE: ALK), together with its partner regional airlines, serves more than 100 cities through an expansive network in the United States, Canada, Mexico and Costa Rica. Alaska Airlines ranked "Highest in Customer Satisfaction Among Traditional Carriers in North America" in the J.D. Power North America Airline Satisfaction Study for eight consecutive years from 2008 to 2015. Alaska Airlines' Mileage Plan also ranked "Highest in Customer Satisfaction with Airline Loyalty Rewards Programs" in the J.D. Power 2014 and 2015 Airline Loyalty/Rewards Program Satisfaction Report. For reservations, visit www.alaskaair.com. For more news and information, visit the Alaska Airlines Newsroom at www.alaskaair.com/newsroom.

SOURCE Alaska Air Group