DAL: Delta Increases Dividend, Approves $2B Buyback

It will complete the share repurchases by 2016

   

DAL: Delta Increases Dividend, Approves $2B Buyback

On Tuesday, Delta Air Lines (DAL) said it will buyback shares and hike its quarterly dividend. Investors liked the news, sending DAL stock up about 2% in morning trading.

Delta Airlines1 300x199 DAL: Delta Increases Dividend, Approves $2B BuybackDAL shares climbed after Delta announced plans to repurchase as much as $2 billion in DAL stock by the end of 2016. The third-largest U.S. airline also indicated that it will boost its quarterly dividend to 9 cents per DAL share, up 50% from 6 cents, the Wall Street Journal noted.

boeing plane 630 flickr 200x200 DAL: Delta Increases Dividend, Approves $2B Buyback
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Delta said that its debt fell to $9.1 billion at the end of March, and plans to cut adjusted net debt to $7 billion next year. The airline has reduced its debt by $2.6 billion since 2012.

On Monday, DAL stock closed at $37.55 per share.

More Airline Stocks in the News:


Article printed from InvestorPlace Media, http://investorplace.com/2014/05/dal-delta-increases-dividend-approves-2b-buyback/.

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