Southwest Airlines (LUV) Dividend History & Yield
Southwest Airlines (LUV) has increased its dividend for multiple years and currently yields 1.81%. The most recent dividend was $0.1800/share on Apr 2, 2026, paid Quarterly.
Current Yield
1.81%
TTM Dividend/Share
$0.72
Payment Frequency
Quarterly
Payout Ratio
46.5%
Consecutive Growth Years
0
Div Growth (1Y CAGR)
0.00%
Div Growth (5Y CAGR)
31.95%
Div Growth (10Y CAGR)
9.71%
Dividend health
Chowder score
33.8%
FCF payout ratio
11.8%
Net debt / EBITDA
1.3x
Interest coverage
8.11x
ROIC (TTM)
6.8%
Dividend Safety Score
4 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 46.5%, well below the 75% threshold.
Free cash flow covers dividend
FCF/share ($-1.54) does not fully cover dividend/share ($0.72).
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have declined over the past 5 years.
10+ years of consecutive growth
Only 0 consecutive year(s) of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 11.8%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 1.3x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (32.0%) exceeds EPS growth (-5.2%) — payout ratio expanding.
Per-payment dividend history
Ex-date Jun 11, 2026
- Payment date
- Jul 2, 2026
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Mar 12, 2026
- Payment date
- Apr 2, 2026
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Dec 26, 2025
- Payment date
- Jan 16, 2026
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Sep 3, 2025
- Payment date
- Sep 24, 2025
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Jun 18, 2025
- Payment date
- Jul 9, 2025
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Mar 12, 2025
- Payment date
- Apr 2, 2025
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Dec 26, 2024
- Payment date
- Jan 16, 2025
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Sep 4, 2024
- Payment date
- Sep 25, 2024
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Jun 18, 2024
- Payment date
- Jul 10, 2024
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Mar 5, 2024
- Payment date
- Mar 27, 2024
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Dec 20, 2023
- Payment date
- Jan 11, 2024
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
Ex-date Sep 5, 2023
- Payment date
- Sep 27, 2023
- Dividend
- $0.1800
- Adj. dividend
- $0.1800
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| Jun 11, 2026 | Jul 2, 2026 | $0.1800 | $0.1800 |
| Mar 12, 2026 | Apr 2, 2026 | $0.1800 | $0.1800 |
| Dec 26, 2025 | Jan 16, 2026 | $0.1800 | $0.1800 |
| Sep 3, 2025 | Sep 24, 2025 | $0.1800 | $0.1800 |
| Jun 18, 2025 | Jul 9, 2025 | $0.1800 | $0.1800 |
| Mar 12, 2025 | Apr 2, 2025 | $0.1800 | $0.1800 |
| Dec 26, 2024 | Jan 16, 2025 | $0.1800 | $0.1800 |
| Sep 4, 2024 | Sep 25, 2024 | $0.1800 | $0.1800 |
| Jun 18, 2024 | Jul 10, 2024 | $0.1800 | $0.1800 |
| Mar 5, 2024 | Mar 27, 2024 | $0.1800 | $0.1800 |
| Dec 20, 2023 | Jan 11, 2024 | $0.1800 | $0.1800 |
| Sep 5, 2023 | Sep 27, 2023 | $0.1800 | $0.1800 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
The table shows 23 year-over-year increases across 46 calendar years of data (1980–2025).
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 2026 | $0.7200 | — | — |
| 2025 | $0.7200 | $0.7200 | 0.0% |
| 2024 | $0.9000 | $0.7200 | -20.0% |
| 2023 | $0.1800 | $0.9000 | +400.0% |
| 2020 | $0.7000 | $0.1800 | -74.3% |
| 2019 | $0.6050 | $0.7000 | +15.7% |
| 2018 | $0.4750 | $0.6050 | +27.4% |
| 2017 | $0.3750 | $0.4750 | +26.7% |
| 2016 | $0.2850 | $0.3750 | +31.6% |
| 2015 | $0.2200 | $0.2850 | +29.5% |
| 2014 | $0.1300 | $0.2200 | +69.2% |
| 2013 | $0.0345 | $0.1300 | +276.8% |
| 2012 | $0.0180 | $0.0345 | +91.7% |
| 2011 | $0.0180 | $0.0180 | 0.0% |
| 2010 | $0.0180 | $0.0180 | 0.0% |
| 2009 | $0.0180 | $0.0180 | 0.0% |
| 2008 | $0.0180 | $0.0180 | 0.0% |
| 2007 | $0.0180 | $0.0180 | 0.0% |
| 2006 | $0.0180 | $0.0180 | 0.0% |
| 2005 | $0.0180 | $0.0180 | 0.0% |
| 2004 | $0.0180 | $0.0180 | 0.0% |
| 2003 | $0.0180 | $0.0180 | 0.0% |
| 2002 | $0.0165 | $0.0180 | +9.1% |
| 2001 | $0.0147 | $0.0165 | +12.5% |
| 2000 | $0.0144 | $0.0147 | +1.5% |
| 1999 | $0.0130 | $0.0144 | +10.8% |
| 1998 | $0.0101 | $0.0130 | +29.4% |
| 1997 | $0.0079 | $0.0101 | +27.5% |
| 1996 | $0.0079 | $0.0079 | 0.0% |
| 1995 | $0.0079 | $0.0079 | 0.0% |
| 1994 | $0.0079 | $0.0079 | 0.0% |
| 1993 | $0.0074 | $0.0079 | +7.1% |
| 1992 | $0.0066 | $0.0074 | +12.0% |
| 1991 | $0.0064 | $0.0066 | +3.5% |
| 1990 | $0.0061 | $0.0064 | +3.6% |
| 1989 | $0.0058 | $0.0061 | +6.8% |
| 1988 | $0.0056 | $0.0058 | +2.3% |
| 1987 | $0.0056 | $0.0056 | 0.0% |
| 1986 | $0.0056 | $0.0056 | 0.0% |
| 1985 | $0.0056 | $0.0056 | 0.0% |
| 1984 | $0.0056 | $0.0056 | 0.0% |
| 1983 | $0.0056 | $0.0056 | 0.0% |
| 1982 | $0.0048 | $0.0056 | +17.6% |
| 1981 | $0.0037 | $0.0048 | +27.5% |
| 1980 | — | $0.0037 | — |
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Cash dividends paid (USD) — TTM and history
Trailing-twelve-month and annual common dividends paid for Southwest Airlines (LUV) from the consolidated cash flow statement, in USD as filed.
Latest period
$385.00M
YoY change
-7.2%
5Y CAGR
+16.2%
Peak year (2024)
$430.00M
Latest annual
$399.00M
Cash dividends paid over time for Southwest Airlines (LUV)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Southwest Airlines (LUV)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $399.00M | -7.2% | -$31.00M | ||
| 2024 | $430.00M | +0.5% | +$2.00M | ||
| 2023 | $428.00M | — | +$428.00M | ||
| 2022 | $0 | — | $0 | ||
| 2021 | $0 | -100.0% | -$188.00M | ||
| 2020 | $188.00M | -49.5% | -$184.00M | ||
| 2019 | $372.00M | +12.0% | +$40.00M | ||
| 2018 | $332.00M | +21.2% | +$58.00M | ||
| 2017 | $274.00M | +23.4% | +$52.00M | ||
| 2016 | $222.00M | +23.3% | +$42.00M | ||
| 2015 | $180.00M | +29.5% | +$41.00M | ||
| 2014 | $139.00M | +95.8% | +$68.00M | ||
| 2013 | $71.00M | +222.7% | +$49.00M | ||
| 2012 | $22.00M | +57.1% | +$8.00M | ||
| 2011 | $14.00M | +7.7% | +$1.00M | ||
| 2010 | $13.00M | 0.0% | $0 | ||
| 2009 | $13.00M | 0.0% | $0 | ||
| 2008 | $13.00M | -7.1% | -$1.00M | ||
| 2007 | $14.00M | 0.0% | $0 | ||
| 2006 | $14.00M | 0.0% | $0 | ||
| 2005 | $14.00M | 0.0% | $0 | ||
| 2004 | $14.00M | 0.0% | $0 | ||
| 2003 | $14.00M | +0.9% | +$128,000 | ||
| 2002 | $13.87M | +3.2% | +$432,000 | ||
| 2001 | $13.44M | +22.4% | +$2.46M | ||
| 2000 | $10.98M | +1.6% | +$178,000 | ||
| 1999 | $10.80M | +16.3% | +$1.52M | ||
| 1998 | $9.28M | +40.8% | +$2.69M | ||
| 1997 | $6.59M | +6.1% | +$377,000 | ||
| 1996 | $6.22M | +9.1% | +$516,000 | ||
| 1995 | $5.70M | 0.0% | $0 | ||
| 1994 | $5.70M | +5.6% | +$300,000 | ||
| 1993 | $5.40M | +10.2% | +$500,000 | ||
| 1992 | $4.90M | +16.7% | +$700,000 | ||
| 1991 | $4.20M | +2.4% | +$100,000 | ||
| 1990 | $4.10M | -2.4% | -$100,000 | ||
| 1989 | $4.20M | — | — |
2025's annual dividends paid for Southwest Airlines (LUV) came in at $399.00M – declined 7.2% year-over-year.
Over 2020–2025 (5 years), Southwest Airlines dividends paid expanded at a +16.2% compound annual rate, with the latest reading among the more recent periods of the dataset.
Southwest Airlines dividends paid declined from $430.00M in 2024 to $399.00M in 2025, a 7.2% drawdown.
Across the available history, dividends paid reached its high of $430.00M in 2024 and its low of $0 in 2021.
Southwest Airlines (LUV) sits 8th of 8 Industrials peers we track on this metric, against a peer median of $2.23B.
Southwest Airlines Dividends Paid 2025: $399.00M
Southwest Airlines dividends paid in 2025 was $399.00M, declined 7.2% below 2024.
Southwest Airlines Dividends Paid 2024: $430.00M
Southwest Airlines dividends paid in 2024 was $430.00M, edged up 0.5% from 2023. This figure represents the highest annual value in the available history.
Southwest Airlines Dividends Paid 2023: $428.00M
Southwest Airlines dividends paid in 2023 was $428.00M.
Southwest Airlines Dividends Paid 2022: $0
Southwest Airlines dividends paid in 2022 was $0.
Southwest Airlines Dividends Paid 2021: $0
Southwest Airlines dividends paid in 2021 was $0.
See more financial history for Southwest Airlines (LUV).
Sector peers by dividends paid
Companies in the same sector as Southwest Airlines, ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| RTX (RTX) | $3.57B | Industrials |
| Union Pacific (UNP) | $3.24B | Industrials |
| Honeywell International (HON) | $2.98B | Industrials |
| Caterpillar (CAT) | $2.75B | Industrials |
| Deere & Company (DE) | $1.72B | Industrials |
| Eaton Corporation (ETN) | $1.63B | Industrials |
| GE Aerospace (GE) | $1.45B | Industrials |
| Boeing (BA) | $0 | Industrials |
Frequently asked questions
Does Southwest Airlines pay dividends?
Yes, Southwest Airlines (LUV) pays quarterly dividends of approximately $0.72 per share annually, yielding 1.81%.
What is Southwest Airlines's dividend yield?
Southwest Airlines (LUV) has a current dividend yield of 1.81%.
Is Southwest Airlines's dividend safe?
Southwest Airlines (LUV) passes 4 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Southwest Airlines increased its dividend?
Southwest Airlines (LUV) has 0 consecutive years of dividend increases.
What is Southwest Airlines's dividend payout ratio?
Southwest Airlines (LUV) has a dividend payout ratio of 46.5%. Trailing twelve months (GAAP): adjusted dividends over roughly 12 months aligned with the latest reported quarter, divided by the sum of diluted EPS from the last four fiscal quarters (not NII or taxable income for BDCs/REITs).
What is Southwest Airlines's dividends paid?
Latest reported dividends paid for Southwest Airlines (LUV) is $385.00M (period ending March 31, 2026).
How has Southwest Airlines dividends paid changed year-over-year?
Southwest Airlines (LUV) dividends paid changed -7.2% year-over-year on the latest annual filing.
What is the long-term growth rate of Southwest Airlines dividends paid?
Southwest Airlines (LUV) dividends paid compound annual growth rate is +16.2% over the most recent 5 years available.
When did Southwest Airlines dividends paid hit its highest annual value?
Southwest Airlines dividends paid reached its highest annual value of $430.00M in 2024.
What was Southwest Airlines dividends paid in 2024?
Southwest Airlines (LUV) dividends paid in 2024 was $430.00M.
What was Southwest Airlines dividends paid in 2025?
Southwest Airlines (LUV) dividends paid in 2025 was $399.00M.
Explore more
LUV Overview
Company profile, financial tools, and key metrics
LUV Revenue Counter
Earns $915.91 every second. See per minute, hour, and day.
LUV Earnings Counter
Earns $25.91 per second net profit. See per minute, hour, and day.
LUV Economic Scale
Exceeds Albania's GDP. Compare with world economies.
LUV What If Invested
What if you had invested $1,000? See historical returns from any date.
LUV How It Makes Money
Discover visual breakdown of $28.88B in revenue — where it comes from and where it goes.
LUV Stock Seasonality
Best and worst months to invest. Historical monthly returns heatmap.
LUV Price Target Scenarios
Model bear, base, and bull cases with EPS growth and exit P/E — pre-filled from analysts and history.
LUV Daily Price Character
Balanced · 47.3% historical win rate (green days). Streaks & record days.
LUV Buybacks
16.30% TTM buyback yield. Shareholder yield & SBC comparison.
LUV Stock Split History
14 splits on record. Dates, ratios, and cumulative multiple.
LUV Dividend Calculator
How much dividend income would $1,000 have earned? Calculate from any date.
LUV Dividend Forecast
Project future income with DRIP, growth assumptions, and optional monthly contributions.
LUV Dividend Capture
Historical pre-ex touch stats, gap distribution, after-tax calculator, and a backtest simulator (limit-order vs MOC exit).
LUV Financials
Revenue, EPS, EBITDA, market cap, debt and balance sheet history with annual and quarterly data.