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Alaska Air Group Q4 net income $191 million, dividend jumps

Staff writer |
Alaska Air Group reported fourth quarter 2015 GAAP net income of $191 million, or $1.51 per diluted share.

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This compares to GAAP net income of $148 million, or $1.11 per diluted share in 2014.

Excluding mark-to-market fuel hedge losses of $1 million ($1 million after tax, or $0.01 per diluted share), a non-cash pension settlement charge and a litigation-related matter of $32 million in aggregate ($20 million after tax, or $0.16 per diluted share), and a tax benefit of $26 million related to amended multiple-year state tax returns, the company recorded fourth quarter 2015 net income of $186 million, or $1.46 per diluted share.

This result compares to net income, excluding mark-to-market fuel hedge gains and special items, of $125 million, or $0.94 per diluted share, in 2014.

The company reported full year 2015 GAAP net income of $848 million, compared to $605 million in the prior year. Excluding the impact of some items, the company reported record net income of $842 million, or $6.51 per diluted share for 2015, compared to net income of $571 million, or $4.18 per diluted share in 2014.

Alaska Air announced a 38% increase in the quarterly dividend, from $0.20 per share to $0.275 per share in January 2016. This is the third time the company has raised the dividend since initiating the quarterly dividend in July 2013, with a cumulative increase of 175% since that time.

“With today’s announcement, our dividend has increased by 175% since we initiated it two and one-half years ago. This increase underscores our confidence in our business and our commitment to return capital to shareholders,” said CEO Brad Tilden


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