Southwest Airlines Co

NYSE : LUV
USA·Industrials·Transportation·Ordinary Shares
$39.50
−0.61 (−1.36%)Oct 16 close
Market Cap
$19.41B
Enterprise Value
$22.51B
P/E (TTM)
24.23
P/B
2.73
Net Cash / (Debt)
−$3.10B
52-Week Range
$30 — $55
5-Year Range
$22 — $55
Avg Volume (3M)
6.09M
ListingsNYSELTSMEXFRA
Dividend Yield (TTM)
1.82%
vs 5Y avg 1.54% · 10Y avg 1.23%
Dividend Yield (Forward)
1.82%
4 payments/yr (spacing)
Dividends / Share (TTM)
$0.72
Forward (annualized): $0.72
Payout Ratio (EPS, TTM)
44.2%
Payout Ratio (FCF, TTM)
—
Dividend CAGR (3Y / 5Y / 10Y)
3Y—5Y32.0%10Y9.7%
Consecutive Growth Years
0
as of 2025
Years Without a Cut
1
as of 2025
Total Shareholder Yield (TTM)
8.87%
Div 1.71% + Net buyback 7.16%

Growth, streak and CAGR figures exclude special dividends.

Dividends per share

Cash dividends, split-adjusted · USD

Payout ratio

Dividends per share ÷ diluted EPS and ÷ free cash flow per share, by fiscal year.

Dividend yield

Trailing-twelve-month dividends ÷ month-end price.

Capital returns

Net buybacks = repurchases − stock issuance, fiscal-year cash flows. SBC shown for dilution context.

Total Shareholder Yield (TTM)
8.9%
Dividends 1.7% + Net buybacks 7.2%
Net Buyback (TTM)
$1.55B
Gross $1.55B − Issuance $0
SBC (TTM)
$0
Share-based compensation, dilution driver
Net share-count change % / yr

Annual dividend growth

YearDPS (regular sum, USD)ChangeHikes
20250.720.0%0
20240.72-20.0%0
20230.90—0
20200.18-74.3%0
20190.70+15.7%1
20180.605+34.4%1
20170.45+20.0%1
20160.375+31.6%1
20150.285+29.5%1
20140.22+69.2%1
20130.13+276.8%1
20120.0345+91.7%1
20110.0180.0%0
20100.0180.0%0
20090.0180.0%0

Special dividends are excluded from these figures. Based on 158 regular payments.

Payment history (158 payments)

As declaredΔ%TypeFrequencyDeclarationRecordPay date
2026-09-03$0.18–0.0%Cashquarterly2026-07-302026-09-032026-09-24
2026-06-11$0.18–0.0%Cashquarterly2026-05-072026-06-112026-07-02
2026-03-12$0.18–0.0%Cashquarterly2026-02-052026-03-122026-04-02
2025-12-26$0.18–0.0%Cashquarterly2025-11-202025-12-262026-01-16
2025-09-03$0.18–0.0%Cashquarterly2025-07-312025-09-032025-09-24
2025-06-18$0.18–0.0%Cashquarterly2025-05-132025-06-182025-07-09
2025-03-12$0.18–0.0%Cashquarterly2025-02-052025-03-122025-04-02
2024-12-26$0.18–0.0%Cashquarterly2024-11-212024-12-262025-01-16
2024-09-04$0.18–0.0%Cashquarterly2024-07-312024-09-042024-09-25
2024-06-18$0.18–0.0%Cashquarterly2024-05-152024-06-192024-07-10
2024-03-05$0.18–0.0%Cashquarterly2024-01-312024-03-062024-03-27
2023-12-20$0.18–0.0%Cashquarterly2023-11-162023-12-212024-01-11
2023-09-05$0.18–0.0%Cashquarterly2023-08-022023-09-062023-09-27
2023-06-20$0.18–0.0%Cashquarterly2023-05-172023-06-212023-07-12
2023-03-07$0.18–0.0%Cashquarterly2023-02-012023-03-082023-03-29
2023-01-09$0.18–0.0%Cashquarterly2022-12-072023-01-102023-01-31
2020-03-03$0.18–0.0%Cashquarterly2020-01-292020-03-042020-03-25
2019-12-10$0.18–0.0%Cashquarterly2019-11-202019-12-112020-01-08
2019-08-20$0.18–0.0%Cashquarterly2019-07-312019-08-212019-09-11
2019-06-04$0.18–+12.5%Cashquarterly2019-05-142019-06-052019-06-26
2019-03-05$0.16–0.0%Cashquarterly2019-01-302019-03-062019-03-27
2018-12-04$0.16–0.0%Cashquarterly2018-11-142018-12-052019-01-02
2018-08-21$0.16–0.0%Cashquarterly2018-08-032018-08-222018-09-12
2018-06-05$0.16–+28.0%Cashquarterly2018-05-172018-06-062018-06-27
2018-03-06$0.125–0.0%Cashquarterly2018-02-012018-03-072018-03-28
2017-12-06$0.125–0.0%Cashquarterly2017-11-162017-12-072018-01-04
2017-08-22$0.125–+25.0%Cashquarterly2017-08-012017-08-242017-09-14
2017-06-05$0.1–0.0%Cashquarterly2017-05-172017-06-072017-06-28
2017-03-07$0.1–0.0%Cashquarterly2017-02-022017-03-092017-03-30
2016-12-06$0.1–0.0%Cashquarterly2016-11-172016-12-082017-01-05
2016-08-16$0.1–0.0%Cashquarterly2016-07-282016-08-182016-09-08
2016-06-06$0.1–+33.3%Cashquarterly2016-05-182016-06-082016-06-29
2016-03-01$0.075–0.0%Cashquarterly2016-01-282016-03-032016-03-24
2015-12-08$0.075–0.0%Cashquarterly2015-11-202015-12-102016-01-07
2015-08-18$0.075–0.0%Cashquarterly2015-07-302015-08-202015-09-10
2015-06-01$0.075–+25.0%Cashquarterly2015-05-132015-06-032015-06-24
2015-03-03$0.06–0.0%Cashquarterly2015-01-292015-03-052015-03-26
2014-12-09$0.06–0.0%Cashquarterly2014-11-202014-12-112015-01-02
2014-08-19$0.06–0.0%Cashquarterly2014-07-302014-08-212014-09-12
2014-06-02$0.06–+50.0%Cashquarterly2014-05-142014-06-042014-06-25
2014-03-04$0.04–0.0%Cashquarterly2014-01-302014-03-062014-03-27
2013-12-10$0.04–0.0%Cashquarterly2013-12-112013-12-122014-01-02
2013-08-06$0.04–0.0%Cashquarterly2013-07-172013-08-082013-08-29
2013-06-03$0.04–+300.0%Cashquarterly2013-05-152013-06-052013-06-26
2013-03-05$0.01–0.0%Cashquarterly2013-01-312013-03-072013-03-28
2012-12-04$0.01–0.0%Cashquarterly2012-11-152012-12-062013-01-03
2012-08-14$0.01–0.0%Cashquarterly2012-07-272012-08-162012-09-06
2012-06-04$0.01–+122.2%Cashquarterly2012-05-172012-06-062012-06-20
2012-02-28$0.0045–0.0%Cashquarterly2012-01-272012-03-012012-03-22
2011-12-06$0.0045–0.0%Cashquarterly2011-11-182011-12-082012-01-05
2011-08-23$0.0045–0.0%Cashquarterly2011-07-292011-08-252011-09-15
2011-06-06$0.0045–0.0%Cashquarterly2011-05-192011-06-082011-06-22
2011-03-01$0.0045–0.0%Cashquarterly2011-01-282011-03-032011-03-24
2010-12-07$0.0045–0.0%Cashquarterly2010-11-192010-12-092011-01-06
2010-08-24$0.0045–0.0%Cashquarterly2010-07-162010-08-262010-09-16
2010-06-07$0.0045–0.0%Cashquarterly2010-05-202010-06-092010-06-23
2010-03-02$0.0045–0.0%Cashquarterly2010-01-292010-03-042010-03-25
2009-12-08$0.0045–0.0%Cashquarterly2009-11-202009-12-102010-01-07
2009-09-01$0.0045–0.0%Cashquarterly2009-07-242009-09-032009-09-24
2009-06-08$0.0045–0.0%Cashquarterly2009-05-212009-06-102009-06-24
2009-02-24$0.0045–0.0%Cashquarterly2009-01-162009-02-262009-03-19
2008-12-09$0.0045–0.0%Cashquarterly2008-11-212008-12-112009-01-08
2008-08-26$0.0045–0.0%Cashquarterly2008-07-182008-08-282008-09-18
2008-06-10$0.0045–0.0%Cashquarterly2008-05-212008-06-122008-06-26
2008-02-26$0.0045–0.0%Cashquarterly2008-01-172008-02-282008-03-20
2007-12-04$0.0045–0.0%Cashquarterly2007-11-152007-12-062008-01-03
2007-08-28$0.0045–0.0%Cashquarterly2007-07-192007-08-302007-09-20
2007-06-05$0.0045–0.0%Cashquarterly2007-05-162007-06-072007-06-28
2007-02-27$0.0045–0.0%Cashquarterly2007-01-182007-03-012007-03-22
2006-12-05$0.0045–0.0%Cashquarterly2006-11-162006-12-072007-01-04
2006-08-29$0.0045–0.0%Cashquarterly2006-07-202006-08-312006-09-21
2006-06-06$0.0045–0.0%Cashquarterly2006-05-172006-06-082006-06-29
2006-02-28$0.0045–0.0%Cashquarterly2006-01-192006-03-022006-03-23
2005-12-06$0.0045–0.0%Cashquarterly2005-11-182005-12-082006-01-05
2005-08-30$0.0045–0.0%Cashquarterly2005-07-252005-09-012005-09-22
2005-06-07$0.0045–0.0%Cashquarterly2005-05-202005-06-092005-06-30
2005-03-01$0.0045–0.0%Cashquarterly2005-01-202005-03-032005-03-24
2004-12-07$0.0045–0.0%Cashquarterly2004-11-182004-12-092005-01-06
2004-08-31$0.0045–0.0%Cashquarterly2004-07-152004-09-022004-09-23
2004-06-08$0.0045–0.0%Cashquarterly2004-05-192004-06-102004-06-30
2004-03-02$0.0045–0.0%Cashquarterly2004-01-222004-03-042004-03-25
2003-12-03$0.0045–0.0%Cashquarterly2003-11-212003-12-052004-01-06
2003-08-29$0.0045–0.0%Cashquarterly2003-07-172003-09-032003-09-24
2003-06-02$0.0045–0.0%Cashquarterly2003-05-142003-06-042003-06-25
2003-03-04$0.0045–0.0%Cashquarterly2003-01-162003-03-062003-03-27
2002-12-09$0.0045–0.0%Cashquarterly2002-11-212002-12-112003-01-10
2002-08-30$0.0045–0.0%Cashquarterly2002-07-182002-09-042002-09-25
2002-06-03$0.0045–0.0%Cashquarterly2002-05-152002-06-052002-06-26
2002-02-27$0.0045–0.0%Cashquarterly2002-01-172002-03-012002-03-26
2001-12-03$0.0045–0.0%Cashquarterly2001-11-152001-12-052002-01-04
2001-08-31$0.0045–0.0%Cashquarterly2001-07-192001-09-052001-09-27
2001-06-04$0.0045–0.0%Cashquarterly2001-05-162001-06-062001-06-27
2001-02-28$0.0045–+21.6%Cashquarterly2001-01-222001-03-022001-03-27
2000-12-04$0.0037$0.00560.0%Cashquarterly2000-11-162000-12-062001-01-03
2000-09-01$0.0037$0.00560.0%Cashquarterly2000-07-202000-09-062000-09-27
2000-05-31$0.0037$0.00560.0%Cashquarterly2000-05-252000-06-022000-06-27
2000-03-01$0.0037$0.00560.0%Cashquarterly2000-01-202000-03-032000-03-28
1999-12-06$0.0037$0.00560.0%Cashquarterly1999-11-291999-12-082000-01-04
1999-08-30$0.0037$0.0056-0.1%Cashquarterly1999-07-161999-09-011999-09-22
1999-06-02$0.0037$0.0083+12.2%Cashquarterly1999-05-201999-06-041999-06-29
1999-03-03$0.0033$0.00740.0%Cashquarterly1999-01-281999-03-051999-03-30
1998-12-07$0.0033$0.00740.0%Cashquarterly1998-11-201998-12-091999-01-05
1998-08-31$0.0033$0.0074+10.0%Cashquarterly1998-07-201998-09-021998-09-23
1998-06-03$0.003$0.01010.0%Cashquarterly1998-04-241998-06-051998-06-30
1998-03-04$0.003$0.01010.0%Cashquarterly1998-01-221998-03-061998-03-31
1997-12-08$0.003$0.0101+30.4%Cashquarterly1997-11-201997-12-101998-01-06
1997-08-29$0.0023$0.01160.0%Cashquarterly1997-07-171997-09-031997-09-24
1997-05-28$0.0023$0.0116+4.5%Cashquarterly1997-05-151997-05-301997-06-24
1997-02-26$0.0022$0.01110.0%Cashquarterly1997-02-101997-02-281997-03-25
1996-12-09$0.0022$0.0111+1.2%Cashquarterly1996-11-211996-12-111997-01-07
1996-08-30$0.0022$0.011-1.2%Cashquarterly1996-08-101996-09-041996-09-25
1996-05-29$0.0022$0.01110.0%Cashquarterly1996-05-211996-05-311996-06-25
1996-02-28$0.0022$0.0111+11.4%Cashquarterly1996-01-251996-03-011996-03-26
1995-12-04$0.002$0.01-1.2%Cashquarterly1995-11-141995-12-061996-01-02
1995-09-01$0.002$0.01010.0%Cashquarterly1995-07-281995-09-061995-09-27
1995-05-29$0.002$0.01010.0%Cashquarterly1995-04-191995-05-25-
1995-05-26$0.002$0.01010.0%Cashquarterly1995-05-111995-05-28-
1995-02-27$0.002$0.01010.0%Cashquarterly1995-01-241995-03-031995-03-28
1994-11-30$0.002$0.01010.0%Cashquarterly1994-11-171994-12-061995-01-03
1994-08-30$0.002$0.01010.0%Cashquarterly1994-07-221994-09-061994-09-27
1994-05-27$0.002$0.01010.0%Cashquarterly1994-05-201994-06-031994-06-27
1994-02-28$0.002$0.01010.0%Cashquarterly1994-01-201994-03-041994-03-28
1993-11-30$0.002$0.01010.0%Cashquarterly1993-11-171993-12-061993-12-27
1993-08-30$0.002$0.0101+11.1%Cashquarterly1993-07-211993-09-061993-09-27
1993-05-28$0.0018$0.01370.0%Cashquarterly1993-04-161993-05-26-
1993-02-26$0.0018$0.01370.0%Cashquarterly1993-01-151993-02-24-
1992-12-01$0.0018$0.01370.0%Cashquarterly1992-10-221992-11-27-
1992-08-31$0.0018$0.0137+58.8%Cashquarterly1992-07-221992-08-27-
1992-06-01$0.0011$0.01720.0%Cashquarterly1992-05-201992-06-051992-06-26
1992-02-28$0.0011$0.01720.0%Cashquarterly1992-01-151992-03-051992-03-26
1991-11-29$0.0011$0.01720.0%Cashquarterly1991-11-201991-12-051991-12-26
1991-08-29$0.0011$0.01720.0%Cashquarterly1991-07-171991-09-051991-09-26
1991-05-31$0.0011$0.01720.0%Cashquarterly1991-05-151991-06-061991-06-27
1991-03-01$0.0011$0.01720.0%Cashquarterly1991-01-161991-03-071991-03-28
1990-11-29$0.0011$0.01720.0%Cashquarterly1990-11-151990-12-051990-12-20
1990-09-06$0.0011$0.0172-24.4%Cashquarterly1990-07-181990-09-121990-09-26
1990-06-07$0.0015$0.03410.0%Cashquarterly1990-04-261990-06-05-
1990-03-05$0.0015$0.03410.0%Cashquarterly1990-01-241990-03-01-
1989-11-29$0.0015$0.03410.0%Cashquarterly1989-10-201989-11-27-
1989-09-01$0.0015$0.03410.0%Cashquarterly1989-07-211989-08-30-
1989-06-07$0.0015$0.03410.0%Cashquarterly1989-04-281989-06-05-
1989-03-06$0.0015$0.03410.0%Cashquarterly1989-01-251989-03-02-
1988-11-29$0.0015$0.0341+7.1%Cashquarterly1988-10-201988-11-25-
1988-09-02$0.0014$0.03190.0%Cashquarterly1988-07-221988-08-31-
1988-06-07$0.0014$0.03190.0%Cashquarterly1988-04-281988-06-03-
1988-03-04$0.0014$0.03190.0%Cashquarterly1988-01-221988-03-02-
1987-11-27$0.0014$0.03190.0%Cashquarterly1987-10-161987-11-25-
1987-09-02$0.0014$0.03190.0%Cashquarterly1987-07-241987-08-31-
1987-06-08$0.0014$0.03190.0%Cashquarterly1987-04-291987-06-04-
1987-03-04$0.0014$0.03190.0%Cashquarterly1987-01-231987-03-02-
1986-11-26$0.0014$0.03190.0%Cashquarterly1986-10-171986-11-24-
1986-09-03$0.0014$0.03190.0%Cashquarterly1986-07-251986-09-01-
1986-06-06$0.0014$0.03190.0%Cashquarterly1986-04-251986-06-04-
1986-03-05$0.0014$0.03190.0%Cashquarterly1986-01-241986-03-03-
1985-11-26$0.0014$0.03190.0%Cashquarterly1985-10-171985-11-22-
1985-09-04$0.0014$0.03190.0%Cashquarterly1985-07-261985-09-02-
1985-06-06$0.0014$0.03190.0%Cashquarterly1985-04-251985-06-04-
1985-03-06$0.0014$0.0319–Cashquarterly1985-01-251985-03-04-

Splits (14)

DateRatioCumulative
1977-03-175:4×300.3387 to today
1978-03-273:2×240.271 to today
1979-02-263:2×160.1807 to today
1980-09-233:2×106.7871 to today
1981-10-235:4×71.1914 to today
1983-01-242:1×56.9531 to today
1984-01-305:4×28.4766 to today
1990-08-303:2×22.7813 to today
1992-07-162:1×15.1875 to today
1993-07-163:2×7.5938 to today
1997-11-283:2×5.0625 to today
1998-08-213:2×3.375 to today
1999-07-203:2×2.25 to today
2001-02-163:2×1.5 to today