Southwest Airlines Reinstates Dividend After Coronavirus Suspension
- Carrier plans to pay investors 18 cents a share in January
- US government aid had restricted dividends since early 2020
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Southwest Airlines Co. said it would reinstate its dividend following a pause of more than two years, becoming the first major US carrier to resume the shareholder payouts after they were suspended during the pandemic as a condition of receiving government aid.
Southwest’s board approved a quarterly dividend of 18 cents a share to be paid on Jan. 31, according to a statement Wednesday. The airline had notched a string of consecutive quarterly payouts for 43 years that ended in early 2020 as pandemic lockdowns began. The restriction on dividends tied to US financial aid ended in September of this year.