Qantas (ASX:QAN) shares end 4% higher as international travel picks up

April 21, 2022 07:23 PM AEST | By Sonal Goyal

Qantas (ASX:QAN) shares end 4% higher as international travel picks up — Image source: © Iwikoz6 | Megapixl.com

Why is Qanta's share price gaining momentum?

Shares of Qantas dropped when the first wave of Covid-19 hit the world, and now with ease in the global travel restrictions, investors are probably grabbing shares of the flagship carrier.

Now Aussies are no longer required to undergo the Covid-19 test before travelling. In addition to this, Aussies with or without vaccination can travel abroad.

Qantas' share price gain can also be linked with the global airline's stocks rally. Shares of Delta Air Lines, Inc. (NYSE:DAL) closed 1.16% up, and United Airlines Holdings Inc (NASDAQ:UAL) closed 1.24% higher overnight. These shares gained after the mask mandates were eased on planes by the Florida court.

Share price of Qantas has increased by over 9% year till date. In the last five trading sessions alone, Qantas shares by gained over 11%.

Image source: © Caymia | Megapixl.com

Dividend history of Qantas

Qantas, which has a market capitalisation of AU$10.24 billion has not declared any dividend since September 2019 as its business was severely impacted after the outbreak of Covid-19. In June 2020, it reported a net loss of AU$1.96 billion, and in June 2021, it recorded a net loss of AU$1.73 billion. Earlier, Qantas used to be one of the strongest dividends paying companies, and now it has tightened its belt.

Must read: Inflation jumps to 30-year high in NZ, what to expect from Australia?

From October 2017 till September 2019, Qantas showed significant growth in the dividend amount. In two years, the dividend amount surged from 0.07 to 0.13 cents per share.

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