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Southwest Airlines Reinstates Quarterly Dividend

Southwest Airlines Co. (LUV) has decided to reinstate its quarterly cash dividend.

Southwest Airlines declared a quarterly cash dividend of $0.18 per share to shareholders of record at the close of business on January 10, 2023.

The company had suspended its quarterly dividend from early 2020 through third quarter 2022 due to the uncertainties of the pandemic and the requirements of the company's Coronavirus Aid, Relief, and Economic Security Act (CARES Act) financings.

The quarterly dividend will be paid on January 31, 2023.

Bob Jordan, Chief Executive Officer, stated: "We are pleased with the Board's decision to reinstate our quarterly dividend for Shareholders. Today's announcement reflects the strong return in demand for air travel and the Company's solid operating and financial results since March 2022. As we bring the year to a close, our fourth quarter 2022 outlook remains strong, and we have a solid plan for 20233. The reinstatement of our quarterly dividend also reflects our balance sheet strength and continued focus on generating consistently healthy earnings, margins, and long-term capital returns."

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