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Southwest To Buy Back Up To USD$500 Mln Of Its Shares

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Southwest Airlines said on Thursday that its board authorized the company to repurchase up to USD$500 million worth of its shares and pay a dividend of 0.45 cent per share.

The buyback represents about 5.5 percent of the company's outstanding common stock at current share prices.

The US discount carrier has bought back about USD$1.8 billion of its shares over the pact two years.

(Reuters)