Delta Air Lines, Inc. (NYSE:DAL) announced a quarterly dividend on Wednesday, October 24th, RTT News reports. Stockholders of record on Wednesday, November 7th will be given a dividend of 0.35 per share by the transportation company on Wednesday, November 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, November 6th.
Delta Air Lines has increased its dividend payment by an average of 50.1% per year over the last three years and has increased its dividend every year for the last 4 years. Delta Air Lines has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Delta Air Lines to earn $6.34 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 22.1%.
Shares of Delta Air Lines stock opened at $54.73 on Thursday. The stock has a market capitalization of $37.79 billion, a P/E ratio of 11.10, a PEG ratio of 0.63 and a beta of 1.00. Delta Air Lines has a 1 year low of $48.33 and a 1 year high of $60.79. The company has a current ratio of 0.37, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59.
In other Delta Air Lines news, CEO Edward H. Bastian sold 35,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $55.00, for a total transaction of $1,925,000.00. Following the transaction, the chief executive officer now owns 266,943 shares in the company, valued at approximately $14,681,865. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Easter III sold 3,000 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $58.47, for a total transaction of $175,410.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,353 shares of company stock worth $2,350,708 in the last 90 days. Company insiders own 0.33% of the company’s stock.
A number of equities analysts recently issued reports on DAL shares. ValuEngine cut shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Morgan Stanley dropped their price target on shares of Delta Air Lines from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. Stephens set a $65.00 price target on shares of Delta Air Lines and gave the stock a “buy” rating in a research note on Friday, July 13th. Stifel Nicolaus dropped their price target on shares of Delta Air Lines from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, July 13th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $68.00 price target on shares of Delta Air Lines in a research note on Friday, July 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $67.99.
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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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