SkyWest, Inc. Announces Increase in Quarterly Dividend to $.08 per Share and Authorization of $100 Million Share Repurchase Program

09/02/2017 02:30

ST. GEORGE, Utah, Feb. 9, 2017 /PRNewswire/ -- SkyWest, Inc. (NASDAQ: SKYW) today announced that its Board of Directors declared a quarterly dividend of $.08 per share, which will be paid on April 6, 2017 to shareholders of record at the close of business on March 31, 2017.

Additionally, the Board of Directors authorized the repurchase of up to $100 million of SkyWest common stock over the next three years. SkyWest is authorized to repurchase shares at prevailing market prices in the open market, in privately negotiated transactions or by other means in accordance with federal securities laws. Depending on market conditions and other factors, these purchases may commence or be suspended from time to time without prior notice. The actual timing, number and value of shares repurchased will be determined by SkyWest management in its discretion.

About SkyWest
SkyWest, Inc. is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest's airline companies provide commercial air service in cities throughout North America with approximately 3,100 daily flights carrying nearly 54 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. ExpressJet Airlines operates through partnerships with United Airlines, Delta Air Lines and American Airlines. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with unmatched value for customers, shareholders and its more than 19,000 employees.

Forward-Looking Statements
In addition to historical information, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "forecasts," "expects," "intends," "believes," "anticipates," "estimates", "should," "likely" and similar expressions identify forward-looking statements. Such statements include, but are not limited to, statements about SkyWest's future financial and operating results, plans, objectives, expectations, estimates, intentions and outlook, and other statements that are not historical facts. All forward-looking statements included in this release are made as of the date hereof and are based on information available to SkyWest as of such date. SkyWest assumes no obligation to update any forward-looking statement. Readers should note that many factors could affect the future operating and financial results of SkyWest, SkyWest Airlines or ExpressJet Airlines, and could cause actual results to vary materially from those expressed in forward-looking statements set forth in this release. Risk factors, cautionary statements and other conditions which could cause SkyWest's actual results to differ materially from management's current expectations are contained in SkyWest's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.