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

Delta Air Lines, Inc. (NYSE:DAL) declared a quarterly dividend on Thursday, June 18th. Shareholders 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 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 raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Delta Air Lines has a payout ratio of 11.2% meaning its dividend is sufficiently covered by earnings. 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 NYSE DAL opened at $84.16 on Friday. Delta Air Lines has a twelve month low of $45.28 and a twelve month high of $87.39. The firm has a market cap of $55.29 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30. The business has a fifty day simple moving average of $74.37 and a two-hundred day simple moving average of $70.15. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.54.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 EPS. Analysts expect that Delta Air Lines will post 5.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DAL has been the topic of a number of recent research reports. Seaport Research Partners increased their price objective on shares of Delta Air Lines from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. TD Cowen upped their target price on Delta Air Lines from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Citigroup increased their target price on Delta Air Lines from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Argus lifted their price target on Delta Air Lines from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Finally, Jefferies Financial Group boosted their price target on Delta Air Lines from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Delta Air Lines currently has a consensus rating of “Moderate Buy” and an average target price of $81.05.

Delta Air Lines Company Profile

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.