News Summary: Southwest Airlines boosts dividend

News Summary: In industry with few dividends, Southwest Airlines raises its quarterly payout

By The Associated Press | Associated Press – Thu, May 16, 2013 6:26 AM SGT

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UP AND AWAY: Southwest Airlines Co. is quadrupling its quarterly payout to 4 cents per share from a penny per share.

RARE BIRD: Southwest's increase followed Delta's announcement that it will start paying a dividend. They'll be the only major U.S. airlines to do that.

SHARE THE WEALTH: Southwest's board also raised the company's authority to buy back shares by 50 percent, to $1.5 billion. The airline has already bought $725 million of its own stock since 2011, so it could buy another $775 million, which would make remaining shares more valuable.

 
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