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Southwest Airlines Co

Southwest Airlines Co (LUV)

Southwest Airlines Co. (Southwest), incorporated on March 9, 1967, operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. Southwest provides point-to-point service. As of December 31, 2016, Southwest operated a total of 723 Boeing 737 aircraft and served 101 destinations in 40 states, the District of Columbia, the Commonwealth of Puerto Rico, and eight near-international countries: Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, Belize and Cuba. During the fiscal year ended December 31, 2016, the Company commenced international service out of Los Angeles International Airport by introducing service to Liberia, Costa Rica, and later to three airports in Mexico's coastal regions: Cancun, San Jose del Cabo/Los Cabos and Puerto Vallarta. Southwest bundles fares into three categories: Wanna Get Away, Anytime and Business Select.

The Company offers ancillary service offerings, such as Southwest's EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest's respective policies. EarlyBird Check-In provides customers with automatic check-in before general boarding positions become available, improving customers' seat selection options. Southwest's Pet Policy provides customers an opportunity to bring a small cat or dog into the aircraft cabin. Southwest offers inflight satellite-based wireless fidelity (WiFi) service on all of its 737-700 and 737-800 aircraft. Southwest's customers with small portable electronic devices are able to utilize the airline's onboard WiFi from gate-to-gate when traveling on a Southwest WiFi-enabled aircraft. Southwest's onboard entertainment options on WiFi-enabled aircraft for viewing on customers' personal wireless devices include free access to Southwest's live and on-demand television product. As of December 31, 2016, the television product consisted of approximately 20 live channels and up to 75 on-demand recorded episodes from popular television series. Southwest also provides movies-on-demand, and also offers a Messaging-only option, including all WiFi-enabled stops and connections. The Messaging service allows access to iMessage and pre-downloaded applications for Viber and WhatsApp.

Southwest's Rapid Rewards frequent flyer program enables program members (Members) to earn points for every dollar spent on Southwest fares. The amount of points earned under the program is based on the fare and fare class purchased, with higher fare products earning more points than lower fare products. Each fare class is associated with a points earning multiplier, and points for flights are calculated by multiplying the fare for the flight by the fare class multiplier. Likewise, the amount of points required to be redeemed for a flight is based on the fare and fare class purchased. Under the program, Members are able to redeem their points for every available seat, every day and on every flight. Under the program, Members continue to accumulate points until the time they decide to redeem them. Members can also earn points through qualifying purchases with Rapid Rewards Partners, as well as by using Southwest's co-branded Chase Visa credit card. In addition, holders of Southwest's co-branded Chase Visa credit card are able to redeem their points for items other than travel on Southwest, such as international flights on other airlines, cruises, hotel stays, rental cars, gift cards, event tickets, and more. In addition to earning points for revenue flights and qualifying purchases with Rapid Rewards Partners, Members also have the ability to purchase, gift and transfer points, as well as the ability to donate points to selected charities.

Southwest's Rapid Rewards frequent flyer program features tier and Companion Pass programs for the Members, including A-List and A-List Preferred status. The Company's Internet Website, Southwest.com, is the avenue for Southwest customers to purchase and manage travel online. Customers' trips can be planned and managed directly from the Southwest.com home page. The My Account section of the Website provides a detailed view into a customer's travel and loyalty activity. Southwest.com provides information on the Company's fare and ancillary products. In addition, Southwest.com and Swabiz.com (the Company's business travel reservation Web page) are available in a translated Spanish version, which provides Customers preferring to transact in Spanish. Additionally, Southwest offers customers a mobile Website and applications (iPhone operating system (iOS) and Android) to provide customers the ability to transact with Southwest anytime they have access to their mobile device.

Southwest either leases or pays a usage fee for terminal passenger service facilities at each of the airports it serves, to which various leasehold changes have been made. The Company leases the land and/or structures on a long-term basis for its aircraft maintenance centers (located at Dallas Love Field, Houston Hobby, Phoenix Sky Harbor, Chicago Midway, Hartsfield-Jackson Atlanta International Airport, and Orlando International Airport), and its flight training center at Dallas Love Field. The Company also leases a warehouse and engine repair facility in Atlanta. As of December 31, 2016, the Company operated seven customer support and services call centers. The Company owns its Houston and Phoenix centers.

The Company competes with American Airlines, Delta Air Lines, Inc. and United Airlines.

Fundamentals

Optimized Dividends

Annual Dividends

Year Amount Change
2006 0.0c
2007 0.0c 0%
2008 0.0c 0%
2009 0.0c 0%
2010 0.0c 0%
2011 0.45c 100%
2012 4.0c 788.9%
2013 16.0c 300.0%
2014 24.0c 50.0%
2015 30.0c 25.0%
2016 40.0c 33.3%
2017 50.0c 25.0%
2018 64.0c 28.0%
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Dividends

Ex-Div Date Pay Date Year Type Frequency Status Amount
28 Feb 2012 22 Mar 2012 2011 Final Quarterly Paid 0.45c
04 Jun 2012 20 Jun 2012 2012 Interim Quarterly Paid 1c
14 Aug 2012 06 Sep 2012 2012 Interim Quarterly Paid 1c
04 Dec 2012 03 Jan 2013 2012 Interim Quarterly Paid 1c
05 Mar 2013 28 Mar 2013 2012 Final Quarterly Paid 1c
03 Jun 2013 26 Jun 2013 2013 Interim Quarterly Paid 4c
06 Aug 2013 29 Aug 2013 2013 Interim Quarterly Paid 4c
10 Dec 2013 02 Jan 2014 2013 Interim Quarterly Paid 4c
04 Mar 2014 27 Mar 2014 2013 Final Quarterly Paid 4c
02 Jun 2014 25 Jun 2014 2014 Interim Quarterly Paid 6c
19 Aug 2014 12 Sep 2014 2014 Interim Quarterly Paid 6c
09 Dec 2014 02 Jan 2015 2014 Interim Quarterly Paid 6c
03 Mar 2015 26 Mar 2015 2014 Final Quarterly Paid 6c
01 Jun 2015 24 Jun 2015 2015 Interim Quarterly Paid 7.5c
18 Aug 2015 10 Sep 2015 2015 Interim Quarterly Paid 7.5c
08 Dec 2015 07 Jan 2016 2015 Interim Quarterly Paid 7.5c
01 Mar 2016 24 Mar 2016 2015 Final Quarterly Paid 7.5c
06 Jun 2016 29 Jun 2016 2016 Interim Quarterly Paid 10c
16 Aug 2016 08 Sep 2016 2016 Interim Quarterly Paid 10c
06 Dec 2016 05 Jan 2017 2016 Interim Quarterly Paid 10c
07 Mar 2017 30 Mar 2017 2016 Final Quarterly Paid 10c
05 Jun 2017 28 Jun 2017 2017 Interim Quarterly Paid 12.5c
22 Aug 2017 14 Sep 2017 2017 Interim Quarterly Paid 12.5c
06 Dec 2017 04 Jan 2018 2017 Interim Quarterly Paid 12.5c
06 Mar 2018 28 Mar 2018 2017 Final Quarterly Paid 12.5c
05 Jun 2018 27 Jun 2018 2018 Interim Quarterly Paid 16c
21 Aug 2018 12 Sep 2018 2018 Interim Quarterly Paid 16c
04 Dec 2018 02 Jan 2019 2018 Interim Quarterly Paid 16c
05 Mar 2019 27 Mar 2019 2018 Final Quarterly Paid 16c
04 Jun 2019 26 Jun 2019 2019 Interim Quarterly Paid 18c
20 Aug 2019 11 Sep 2019 2019 Interim Quarterly Paid 18c
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Southwest Airlines Co optimized dividend - 12 month history

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Southwest Airlines Co share price - 12 month history

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