Shares of Southwest Airlines Co. (NYSE:LUV) climbed higher yesterday, after its board boosted its quarterly dividend to 4 cents per share, and raised its share repurchase authorization by 50% to $1.5 billion.

Southwest Airlines Co. (NYSE:LUV) stock rose 4.60 percent to $15.00 in pre-market trading. The company on Wednesday announced that it will increase its quarterly dividend to $0.04 per share from $0.01 per share.

DALLAS, May 15, 2013 /PRNewswire/ -- Southwest Airlines (NYSE: LUV) (the "Company") returns value to Shareholders.

The company also added positions in Delta Air Lines Inc. (NYSE:DAL), 2.4 million shares, Southwest Airlines Co. (NYSE:LUV), 2 million shares, Cheniere Energy Inc. (NYSEMKT:LNG)1,905,158 shares and Alpha Natural Resources Inc. (NYSE:ANR), ...

Editor's Note: Related tickers: Delta Air Lines, Inc. (NYSE:DAL), Southwest Airlines Co. (NYSE:LUV), US Airways Group, Inc. (NYSE:LCC), United Continental Holdings Inc (NYSE:UAL), JPMorgan Chase & Co.

Southwest Airlines Co.'s (LUV, $14.30, +$0.32, +2.25%) board quadrupled its quarterly dividend and raised the carrier's share buyback authorization by 50% in an effort to return value to shareholders.

DALLAS, May 14, 2013 /PRNewswire/ -- Southwest Airlines (NYSE: LUV) today releases its fourth annual award-winning integrated report to highlight how the carrier is working to become the world's Most Loved, Most Flown, and Most Profitable Airline.

DALLAS, May 14, 2013 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) invites you to listen to a live webcast presentation of its Annual Meeting of Shareholders.

DALLAS, May 13, 2013 /PRNewswire/ -- Southwest Airlines' Live at 35(TM) concert series has returned with the Travelin' Taylor Tour, a series of six inflight shows featuring current and rising stars spanning multiple musical genres who play Taylor Guitars.

UP AND AWAY: Southwest Airlines Co. is quadrupling its quarterly payout to 4 cents per share from a penny per share. RARE BIRD: Southwest's increase followed Delta's announcement that it will start paying a dividend.