Delta approves $2 billion buyback; raises dividend
May 06, 2014 02:00 PM | 1251 views | 1 1 comments | 14 14 recommendations | email to a friend | print
ATLANTA (AP) — Delta Air Lines Inc.'s board of directors approved a plan to buy back more of its own stock and boost its quarterly dividend by 50 percent.

The Atlanta airline says it will buy $2 billion of its shares by the end of 2016. It will raise its quarterly dividend to 9 cents per share from 6 cents per share starting in September. Delta says the plans will boost shareholder value.

Buying back stock can help boost the company's share price and earnings per share.

Its shares rose 25 cents to $37.80 in afternoon trading Tuesday after rising as high as $38.82, its highest level since emerging from bankruptcy in 2007.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments-icon Post a Comment
Diamond Jim
May 06, 2014
Yep, Delta just keeps on coming up with new fees and charges, mergers damp down competition, fares and profits rise, the shareholders are happy, and the traveling public gets screwed. I quit flying a couple of years ago, except in emergencies. Even with gas prices through the roof,it is still less costly to drive, in many cases, and one does not have to put up with the TSA and surly airline employees who obviously care nothing about their customers unless you are a "Medallion-Level" cash cow. Delta used to be the most customer-oriented airline in the business, but those days are gone forever!
*We welcome your comments on the stories and issues of the day and seek to provide a forum for the community to voice opinions. All comments are subject to moderator approval before being made visible on the website but are not edited. The use of profanity, obscene and vulgar language, hate speech, and racial slurs is strictly prohibited. Advertisements, promotions, and spam will also be rejected. Please read our terms of service for full guides