Delta Air Lines, Inc. (NYSE:DAL) to Issue Dividend Increase – $0.40 Per Share
Delta Air Lines, Inc. (NYSE:DAL) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Stockholders of record on Thursday, July 25th will be paid a dividend of 0.4025 per share by the transportation company on Thursday, August 15th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, July 24th. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35.
Delta Air Lines has raised its dividend by an average of 42.8% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Delta Air Lines has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Delta Air Lines to earn $7.36 per share next year, which means the company should continue to be able to cover its $1.61 annual dividend with an expected future payout ratio of 21.9%.
Shares of NYSE:DAL opened at $60.91 on Monday. The company has a market capitalization of $39.60 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34. Delta Air Lines has a 1 year low of $45.08 and a 1 year high of $63.27. The firm’s fifty day simple moving average is $57.18.
A number of research analysts have recently issued reports on the company. ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Credit Suisse Group upped their price target on Delta Air Lines from $37.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Stifel Nicolaus upped their price target on Rapid7 from $52.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Citigroup increased their target price on Vistra Energy from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Delta Air Lines presently has an average rating of “Buy” and a consensus price target of $67.56.
In other Delta Air Lines news, SVP William C. Carroll sold 6,384 shares of Delta Air Lines stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $61.96, for a total transaction of $395,552.64. Following the completion of the sale, the senior vice president now directly owns 23,010 shares of the company’s stock, valued at approximately $1,425,699.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Glen W. Hauenstein sold 50,000 shares of Delta Air Lines stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $63.03, for a total value of $3,151,500.00. Following the completion of the transaction, the president now owns 267,526 shares in the company, valued at $16,862,163.78. The disclosure for this sale can be found here. In the last three months, insiders sold 91,387 shares of company stock worth $5,531,233. 0.47% of the stock is owned by corporate insiders.
Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
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