Delta Air Lines, Inc. (NYSE:DAL) Announces Dividend Increase – $0.21 Per Share

Delta Air Lines, Inc. (NYSE:DAL) declared a quarterly dividend on Thursday, June 18th. Stockholders of record on Thursday, July 9th will be given a dividend of 0.215 per share by the transportation company on Thursday, July 30th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, July 9th. This is a 14.7% increase from Delta Air Lines’s previous quarterly dividend of $0.19.

Delta Air Lines has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. Delta Air Lines has a dividend payout ratio of 11.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Delta Air Lines to earn $7.55 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 9.9%.

Delta Air Lines Trading Up 2.3%

Shares of DAL stock opened at $84.16 on Friday. The company’s 50-day moving average price is $74.37 and its 200-day moving average price is $70.15. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. The stock has a market cap of $55.29 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.16 and a beta of 1.30. Delta Air Lines has a twelve month low of $45.28 and a twelve month high of $87.39.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Delta Air Lines’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts predict that Delta Air Lines will post 5.37 earnings per share for the current year.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP John E. Laughter sold 15,000 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $71.61, for a total transaction of $1,074,150.00. Following the completion of the transaction, the executive vice president owned 54,369 shares of the company’s stock, valued at $3,893,364.09. This trade represents a 21.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alain Bellemare sold 25,000 shares of Delta Air Lines stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the sale, the executive vice president owned 95,025 shares of the company’s stock, valued at approximately $7,738,836. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 149,635 shares of company stock worth $10,833,855. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

Several large investors have recently made changes to their positions in the stock. Accredited Wealth Management LLC increased its holdings in Delta Air Lines by 1,983.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 476 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in Delta Air Lines during the fourth quarter worth $31,000. SWAN Capital LLC lifted its stake in Delta Air Lines by 1,016.0% during the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock worth $32,000 after purchasing an additional 508 shares in the last quarter. Camelot Portfolios LLC purchased a new position in shares of Delta Air Lines during the fourth quarter worth $34,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Delta Air Lines by 451.6% during the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock worth $34,000 after buying an additional 429 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.