Southwest Airlines Reinstates Dividend That Was Suspended In 2020

Southwest Airlines Co LUV Board of Directors reinstated and declared a quarterly cash dividend of $0.18 per share.
The dividend is payable on January 31, 2023, to shareholders of record on January 10, 2023.
The company suspended its dividend distribution from early 2020 through the third quarter of 2022 due to the uncertainties of the pandemic.
The quarterly dividend of $0.18 per share, or $0.72 per share annualized, is equivalent to its dividend prior to the pandemic.
The quarterly dividend which is the company's 175th, will be paid on January 31, 2023.
"Today's announcement reflects the strong return in demand for air travel and the Company's solid operating and financial results since March 2022," said CEO Bob Jordan.
Southwest held $13.7 billion in cash and equivalents as of September 30, 2022.
Price Action: LUV shares are trading lower by 0.45% at $39.50 in premarket on the last check Wednesday.
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