Delta Air Lines (DAL) will raise its quarterly dividend by 15.0 percent to $0.4025 per share in 2019.

This follows last year's 14.8 percent dividend hike and marks the 6th consecutive year of dividend increases by the air transportation company.

The next dividend will be payable to shareholders of record as of the close of business on July 25, 2019, to be paid on August 15, 2019. A new annual rate of $1.61 per share yields 2.6% at a stock price of $61.66.

"With efficiency gains from our operations, fleet transformation, and One Delta initiatives, we have solid line of sight to achieve our 1% cost growth target for the year," said Paul Jacobson, Delta's chief financial officer.  "Our strong financial foundation and cash generation allow us to sustainably invest in the business, while maintaining our investment grade balance sheet and consistently returning cash to shareholders.  With our cash flow exceeding original expectations, we are on track to return $3 billion to our owners this year through share repurchases and our increased dividend."

Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The company's route network is centered around a system of significant hubs and key markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, São Paulo, Seattle, Seoul-Incheon and Tokyo-Narita. Delta's network includes its international joint ventures, its alliances with other foreign airlines, its membership in SkyTeam and agreements with multiple domestic regional carriers that operate as Delta Connection. Delta's dividend was established in 2013.