Alaska Air Group, Inc. (ALK) to Issue $0.30 Quarterly Dividend
Alaska Air Group, Inc. (NYSE:ALK) declared a quarterly dividend on Friday, November 3rd, RTT News reports. Shareholders of record on Tuesday, November 21st will be paid a dividend of 0.30 per share by the transportation company on Thursday, December 7th. This represents a $1.20 annualized dividend and a yield of 1.89%.
Alaska Air Group has increased its dividend by an average of 76.5% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Alaska Air Group has a payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Alaska Air Group to earn $6.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 18.6%.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 earnings per share.
In related news, EVP Andrew R. Harrison sold 2,350 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $86.03, for a total value of $202,170.50. Following the transaction, the executive vice president now owns 21,328 shares in the company, valued at approximately $1,834,847.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Bradley D. Tilden sold 2,400 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the completion of the transaction, the chairman now owns 140,346 shares in the company, valued at approximately $12,045,897.18. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.
ALK has been the subject of several analyst reports. Barclays PLC reissued a “buy” rating on shares of Alaska Air Group in a research report on Thursday, September 14th. Cowen and Company reissued a “buy” rating and set a $103.00 price target on shares of Alaska Air Group in a research report on Tuesday, September 12th. ValuEngine lowered shares of Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Alaska Air Group in a research report on Saturday, September 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $92.34.
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About Alaska Air Group
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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