Delta increases dividend, stock buyback

Atlanta-based Delta Air Lines announced Tuesday it is increasing its dividend for shareholders and buying back more stock, a sign of its recent strong financial footing enabling it to pay back shareholders.

Delta said it is increasing its quarterly dividend from 6 cents a share to 9 cents a share. And, its board authorized a new $2 billion stock buyback program.

The company said it is on track to return $700 million to shareholders by early June 2014.

Meanwhle, Delta continues efforts to pay down debt and pension liabilities.