Willis Lease Finance Raises Quarterly Dividend to $0.15 and Expands Buyback to $200 Million
Key Facts
Willis Lease Finance on October 30 declared a fourth-quarter 2026 cash dividend of $0.15 per common share, saying the move marked its 10th consecutive quarterly dividend declaration. The company set November 25 as the expected payment date for shareholders of record at the close of business on November 16. According to its statement published via GlobeNewswire, the dividend is 12.8% higher than the previous payment in August. In the same announcement, the board renewed the share repurchase program and raised its overall cap to $200 million. The renewed program runs through December 31, 2031, combining a higher dividend with greater scope for share repurchases.
The company said the new dividend is its 10th consecutive payment and directly tied the 12.8% increase to the August dividend. The previous dividend was $0.133 per share, after being adjusted in July 2026 to reflect a 3-for-1 split of the common shares. This adjustment provides a basis for comparing the two dividends using the post-split share count. According to the earlier disclosure, $0.133 was the quarterly dividend declared for the third quarter of 2026. The new dividend of $0.15 is for the fourth quarter of the same year. The company’s announcement did not state an aggregate cash amount for the dividend in the available information.
The repurchase program allows the company to buy back shares for a total of up to $200 million through December 31, 2031. The announcement describes this amount as a cap on what may be purchased, rather than a commitment to use the full amount. The program’s renewal and higher cap coincide with the dividend increase, placing both actions among the company’s decisions on returning capital to shareholders. The statement did not set a timetable for purchases or a target volume during the program period. It also gave no details on the number of shares that might be purchased or potential execution prices. The announced program remains in effect through the specified date in 2031.
Willis Lease Finance leases spare commercial and regional aircraft engines and aircraft to airlines, engine manufacturers, and maintenance, repair and overhaul providers worldwide. In the second quarter of 2026, rental revenue rose 6.7% to $77.1 million, compared with $72.3 million in the same period of 2025. The company attributed the growth in rental revenue to an increase in the average portfolio size. But total revenue in the second quarter was $194.017 million, down 0.8% from $195.502 million a year earlier. Net income for the period fell to $30.320 million from $60.377 million in the second quarter of 2025. These figures show a divergence between growth in rental revenue and year-over-year declines in total revenue and net income.
In another expansion move, the company said in its quarterly report that it entered into an agreement on July 10, 2026, to acquire all interests in two WNG subsidiaries. The base purchase price is about $379.3 million before adjustments, and the assets include a portfolio of commercial aircraft and spare aircraft engines. The company said completion of the transaction remains subject to customary closing conditions. Willis Lease Finance is scheduled to report third-quarter results on November 3, according to the available information. The results will be the next milestone in tracking the company’s performance after the dividend increase and renewal of the repurchase program. Third-quarter figures will also provide a more recent comparison of rental revenue, total revenue and net income.