Delta Air Lines Resumes Dividend Payment After Three Year Suspension

Delta Air Lines Inc DAL reported the resumption of dividend payments after suspending them in March 2020 during the COVID-19 pandemic.

DAL declared a quarterly dividend per share of $0.10, payable on August 7, 2023, to shareholders of record as on July 17, 2023.

The move reflects the company's progress on its three-year financial plan, which comprises debt repayment of over $10 billion in the last two years.

In April, DAL reported a first-quarter FY23 adjusted operating revenue growth of 45% year-over-year and +14% from Q1 2019 to $11.8 billion, missing the consensus of $11.98 billion, and adjusted EPS of $0.25 below the consensus of $0.30.

Delta Air Lines generated an adjusted operating cash flow of $2.94 billion in Q1, an increase of 67% Y/Y. Adjusted net debt at quarter-end was flat at about $20.9 billion.

Also Read: Delta Air Lines In Talks With Airbus For Wide-Body Aircraft Order: Report

Price Action: DAL shares are trading higher by 0.40% at $42.36 on the last check Thursday.