Printer Friendly

SOUTHWEST AIRLINES DECLARES 3-FOR-2 STOCK SPLIT AND INCREASES DIVIDEND

 DALLAS, May 19 /PRNewswire/ -- Southwest Airlines' (NYSE: LUV) board of directors, at its meeting held today, declared a 3-for-2 stock split of the company's common stock and, concurrent with the stock split, increased the quarterly dividend by 7.1 percent.
 The 3-for-2 stock split will be distributed on July 15, 1993, to shareholders of record at the close of business on July 1, 1993. This stock split will result in a 50 percent increase in the number of common shares outstanding as of the record date, wih? cash being paid in lieu of fractional shares. As of March 17, 1993, before the effects of this stock split, there were 92,587,403 shares outstanding.
 Herbert D. Kelleher, chairman of the board and president of Southwest Airlines, stated: "Southwest has been very fortunate because the people of our company -- our Employee-Shareholders and our Nonemployee-Shareholders -- have been very good to Southwest. In recognition of, and in gratitude for their support, our board of directors has just approved a 3-for-2 stock split to be distributed on July 15, 1993 for shareholders of record on July 1, 1993. Concurrent with the 3-for-2 split, our board has also approved an effective regular dividend increase of 7.1 percent. Currently, the quarterly dividend is $.014 per share. After the effect of the 3-for-2 split and the 7.1 percent increase on July 15, the dividend is adjusted to $.01 per share quarterly. Thank you -- the Employee Shareholders and the Nonemployee Shareholders, the people of Southwest -- for making Southwest the proud and successful airline of today."
 -0- 5/19/93
 /NOTE TO EDITORS: Photos of Herbert D. Kelleher, Boeing 737 and corporate logo available via Wieck Photo DataBase to any newspaper or media outlet with telephoto receiver, or electronic darkroom that can accept overhead transmissions. To electronically retrieve photo free of charge, call 214-416-3686./
 /CONTACT: Gary C. Kelly, vice president-finance/CFO of Southwest Airlines, 214-904-4363/
 (LUV)


CO: Southwest Airlines ST: Texas IN: AIR SU: DIV

PS -- NY051 -- 0269 05/19/93 11:48 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 19, 1993
Words:337
Previous Article:EQUITABLE SHAREHOLDERS ELECT DIRECTORS AND RATIFY APPOINTMENT OF INDEPENDENT AUDITOR
Next Article:INDRESCO INC. ANNOUNCES RESULTS
Topics:


Related Articles
SOUTHWEST AIRLINES DECLARES 61ST CONSECUTIVE QUARTERLY DIVIDEND
SOUTHWEST AIRLINES DECLARES 62ND CONSECUTIVE QUARTERLY DIVIDEND
SOUTHWEST AIRLINES DECLARES 63RD CONSECUTIVE QUARTERLY DIVIDEND
SOUTHWEST AIRLINES DECLARES 64TH CONSECUTIVE QUARTERLY DIVIDEND
SOUTHWEST AIRLINES DECLARES 66TH CONSECUTIVE QUARTERLY DIVIDEND
Southwest Airlines Declares 3-for-2 Stock Split and Increases Dividend.
Southwest Airlines Declares 3-for-2 Stock Split and Increases Dividend.
Southwest Airlines board declares dividend.
Southwest Airlines Announces 121st Consecutive Quarterly Dividend and Share Repurchase Authorization.
Dividend and share repurchase announced by Southwest Airlines.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters