ST. GEORGE, Utah (AP) -- SkyWest Inc. said Monday that its board approved the repurchase of up to an additional 5 million shares of the company's stock.
That is in addition to the remaining 1.51 million shares already authorized under SkyWest's existing stock repurchase program, bringing the total number of shares authorized to 6.51 million, the company said.
SkyWest also declared a regular quarterly dividend of 4 cents. The dividend will be paid on Oct. 5 to shareholders of record as of Sept. 28.
SkyWest, based in St. George, Utah, operates regional jets for United Continental Holdings Inc. and Delta Air Lines Inc. Its shares rose 48 cents, or 5.7 percent, to $8.95 in morning trading.