Analyst points to Southwest Airlines as sign of things to come in sector as airline reinstates dividend for the first time since early in a COVID-19 pandemic
Tortoise Sr. Portfolio Manager and Managing Director Rob Thummel joins 'Mornings with Maria' to discuss oil supply and demand, its effect on prices and the House Republicans launching an investigation into Biden's energy policies.will once again receive quarterly dividends after the air carrier suspended the cash disbursements in early 2020 to navigate the pandemic and adhere to requirements for federal aid. a quarterly cash dividend of $.
Southwest Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Va,, Jan. 24, 2022.In an interview with FOX Business, David Russell, VP of market intelligence at TradeStation, said, "Dividends are a hallmark of stability and confidence, while cutting them can be a black eye on your reputation."
"Southwest's move is a sign that management sees business coming back in 2023," he continued. "It's another sign of life returning to normal after nearly three years of disruption." "Airlines are also seeing a return to profitability as demand rebounds, but a lot of investors remain skeptical because they're worried about a recession," Russell added.
The company's quarterly dividend of $.18 per share, or $.72 per share annualized, is the same as its dividend before the
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