Delta Air Lines, Inc. (DAL) to Issue Quarterly Dividend of $0.15 on August 20th

Delta Air Lines, Inc. (NYSE:DAL) announced a quarterly dividend on Thursday, June 20th, RTT News reports. Shareholders of record on Tuesday, July 30th will be paid a dividend of 0.15 per share by the transportation company on Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, July 30th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10.

Delta Air Lines has decreased its dividend by an average of 20.8% annually over the last three years. Delta Air Lines has a payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Delta Air Lines to earn $7.26 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 8.3%.

Delta Air Lines Stock Up 1.5 %

DAL stock opened at $44.13 on Friday. The firm has a market cap of $28.48 billion, a PE ratio of 6.35, a P/E/G ratio of 0.91 and a beta of 1.35. Delta Air Lines has a 12 month low of $30.60 and a 12 month high of $53.86. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $48.23 and a 200 day simple moving average of $45.80.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.01). The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. Delta Air Lines’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.68 EPS. Equities research analysts forecast that Delta Air Lines will post 6.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

DAL has been the subject of a number of recent analyst reports. Sanford C. Bernstein decreased their price target on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. Citigroup lifted their target price on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Jefferies Financial Group decreased their price objective on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, TD Cowen cut their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $60.70.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Peter W. Carter sold 50,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $50.00, for a total value of $2,500,000.00. Following the transaction, the executive vice president now directly owns 143,328 shares of the company’s stock, valued at approximately $7,166,400. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of Delta Air Lines stock in a transaction on Friday, July 12th. The stock was purchased at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $878,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter W. Carter sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the completion of the sale, the executive vice president now directly owns 143,328 shares of the company’s stock, valued at $7,166,400. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.