Back to top

Image: Bigstock

SkyWest (SKYW) Rewards Shareholders With 16.7% Dividend Hike

Read MoreHide Full Article

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.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>

Published in