ST. GEORGE, Utah, May 7, 2015 /PRNewswire/ -- SkyWest, Inc. (NASDAQ: SKYW) today announced that it has been authorized by its Board of Directors to repurchase up to 1.25 million shares of SkyWest common stock. 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, as deemed appropriate by SkyWest management. 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.
Additionally, SkyWest's Board of Directors declared a quarterly dividend of $0.04 per share to shareholders of record at the close of business June 30, 2015 on all shares then issued and outstanding. The 80th consecutive dividend will be paid on July 7, 2015.
SkyWest was named on Forbes 'America's Best Employers 2015' list and was Air Transport World's Regional Airline of the Year in 2014. SkyWest, Inc. is the holding company for two scheduled passenger airline operations and an aircraft leasing company and is headquartered in St. George, Utah. SkyWest's operating subsidiaries, SkyWest Airlines and ExpressJet Airlines, provide commercial air service in cities across the United States, Canada, Mexico and the Caribbean with nearly 3,500 daily flights and a fleet of 693 aircraft. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, US Airways, American Airlines and Alaska Airlines. ExpressJet Airlines operates through partnerships with United Airlines, Delta Air Lines and American Airlines. SkyWest is headquartered in St. George, Utah, and continues to set the standard for excellence in the regional industry with unmatched value for customers, shareholders and its nearly 20,000 employees. This press release and additional information regarding SkyWest, Inc. can be accessed at www.skywest.com.
FORWARD-LOOKING STATEMENTS
In addition to historical information, this release contains forward-looking statements. SkyWest may, from time to time, make written or oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements encompass SkyWest's beliefs, expectations, hopes or intentions regarding future events. Words such as "forecasts", "expects," "intends," "believes," "anticipates," "estimates", "should," "likely" and similar expressions identify forward-looking statements. 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, and could cause actual results to vary materially from those expressed in forward-looking statements set forth in this release. These factors include, but are not limited to, the prospects of entering into agreements with other carriers to fly new aircraft, ongoing negotiations between SkyWest, SkyWest Airlines and ExpressJet and their major partners regarding their contractual obligations, uncertainties regarding operation of new aircraft, the impact of regulatory issues such as pilot rest rules and qualification requirements, and the ability to obtain aircraft financing. Risk factors, cautionary statements and other conditions which could cause SkyWest's actual results to differ from management's current expectations are contained in SkyWest's filings with the Securities and Exchange Commission; including the section of SkyWest's Annual Report on Form 10-K for the year ended December 31, 2014, entitled "Risk Factors."
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SOURCE SkyWest, Inc.