Delta Air Lines, Inc. (NYSE:DAL) to Issue Quarterly Dividend of $0.40

Delta Air Lines, Inc. (NYSE:DAL) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Shareholders of record on Thursday, July 25th will be given 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 2.63%. The ex-dividend date is Wednesday, July 24th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35.

Delta Air Lines has increased its dividend payment 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 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%.

Delta Air Lines stock opened at $61.29 on Tuesday. Delta Air Lines has a 1-year low of $45.08 and a 1-year high of $63.27. The company has a market capitalization of $39.60 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 0.48 and a beta of 1.18. The firm has a fifty day simple moving average of $57.75. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.34 and a quick ratio of 0.29.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.07. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. The firm had revenue of $12.54 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same period last year, the firm earned $1.77 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Delta Air Lines will post 7.03 earnings per share for the current fiscal year.

In related news, COO W Gilbert West sold 10,342 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $62.64, for a total transaction of $647,822.88. Following the completion of the sale, the chief operating officer now owns 82,992 shares in the company, valued at $5,198,618.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Glen W. Hauenstein sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $63.03, for a total transaction of $3,151,500.00. Following the sale, the president now owns 267,526 shares of the company’s stock, valued at approximately $16,862,163.78. The disclosure for this sale can be found here. Insiders have sold 76,729 shares of company stock valued at $4,728,806 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

A number of research analysts recently weighed in on the stock. Raymond James set a $19.00 price target on shares of Patterson-UTI Energy and gave the company a “buy” rating in a research report on Friday, July 12th. Bank of America set a $152.00 price target on shares of Caterpillar and gave the company a “buy” rating in a research report on Thursday, April 4th. Deutsche Bank raised their price target on shares of Spirit Airlines from $75.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Imperial Capital dropped their price target on shares of Montage Resources from $9.00 to $6.00 and set an “inline” rating on the stock in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus raised their price target on shares of Rapid7 from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $67.56.

About Delta Air Lines

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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Dividend History for Delta Air Lines (NYSE:DAL)

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