In a shareholder-friendly measure, SkyWest, Inc. (SKYW - Free Report) announced a 16.7% raise in its dividend payout. The move is indicative of the company’s commitment to create value for shareholders and also underlines its confidence in business growth.
SkyWest increased its quarterly dividend to 14 cents per share (or 56 cents annually). The amount will be paid out on Apr 6, 2020 to its shareholders of record as of Mar 31. The dividend yield based on the new payout and Feb 4’s closing price is 0.97%.
Previously, in February 2019, this Zacks Rank #3 (Hold) company hiked its quarterly dividend by 20% to 12 cents per share. SkyWest is also active on the buyback front. Last February, the company announced that its board of directors approved a new $250-million share repurchase program. Under this plan, it bought back shares worth $10 million during the fourth quarter of 2019. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Transportation Stocks on a Dividend Hike Spree
In recent times, companies like Alaska Air Group (ALK - Free Report) , Schneider National, Inc. (SNDR - Free Report) and GATX Corporation (GATX - Free Report) in the broader Transportation sector also raised dividend payouts. While Alaska Air Group announced a 7.1% hike in quarterly dividend to 37.5 cents per share (annualized $3), Schneider increased its dividend by 8.3%. Additionally, GATX declared a 4.3% rise in its quarterly dividend.
Investors always prefer an income-generating stock. Hence, a high dividend-yielding one is obviously much coveted. It goes without saying that stockholders are always on the lookout for companies with a history of consistent and incremental dividend payments to invest in.
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