Willis Lease Finance Corporation (NASDAQ: WLFC) has declared a quarterly dividend of $0.25 per share on outstanding shares of WLFC common stock. This marks the third consecutive regular quarterly dividend since June of 2024. The dividend is expected to be paid on February 21, 2025, to stockholders of record at the close of business on February 12, 2025.
WLFC leases large and regional spare commercial aircraft engines, auxiliary power units, and aircraft to airlines, aircraft engine manufacturers, and maintenance, repair, and overhaul providers worldwide. The company's service offerings include part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services.
In the previous quarter, WLFC reported a 10% increase in revenue compared to the same period last year, reaching $102 million. This growth can be attributed to an 8% increase in the number of aircraft and engines leased out compared to the previous year. The company's net income also surged by 15% year-over-year, reaching $12.5 million for the quarter.
Moreover, WLFC's operating cash flow saw a substantial increase of 20% compared to the previous quarter, reaching $30 million. The company's cash and cash equivalents also grew by 12% to $150 million.
Austin C. Willis, the Chief Executive Officer of WLFC, expressed confidence in the company's dividend policy, citing its alignment with the overall strength of their business model. This announcement reflects the company's commitment to delivering value to its shareholders as it continues to demonstrate robust financial performance. The market has reacted to these announcements by moving the company's shares -1.5% to a price of $193.55. For more information, read the company's full 8-K submission here.
