Alaska Air Group (ALK) will raise its dividend by 37.5 percent to $0.275 quarterly in 2016. This follows a 60.0 percent dividend hike by the airline company announced last year.

Alaska Air Group, Inc. is the parent company of Alaska Airlines, Inc., Virgin America Inc., and Horizon Air Industries, Inc. The company operates daily flights across the United States and to Mexico, Canada, Costa Rica and Cuba. The company has been paying a dividend to shareholders every year since 2013, when a quarterly distribution was reinstated. Previously Alaska Air also paid a quarterly dividend to shareholders until 1990.