The Boeing Company and Southwest Airlines Co. announced the launch of the 737 MAX 7, the third member of the 737 MAX family. The carrier and launch customer for the 737 MAX program became the first airline to order the 737 MAX 7, when it converted 30 existing orders for Next-Generation 737s into orders for the 737 MAX 7. Southwest also exercised options to add five more Next-Generation 737-800s to its fleet. These airplanes, along with the 737 MAX 7s, are part of Southwest's ongoing effort to improve fuel efficiency and profitability. The 737 MAX 7 supports Southwest's expanding fleet modernization effort. Southwest is expected to take its first 737 MAX 7 delivery in 2019. The 737 MAX 7 brings the most advanced engine technologies to the next-generation 737-700. The 110-ft long airplane incorporates the latest CFM International LEAP-1B engines to deliver improved efficiency with the most reliability and passenger comfort in the single-aisle market. The 737 MAX 7 also will extend the range over 737-700 by approximately 400 nautical miles (741 km).

Southwest Airlines Co.'s Board of Directors, at its meeting held on May 15, 2013, increased the company's quarterly dividend to $0.04 per share from $0.01 per share. Annualized, this amounts to over $100 million. The increase in the quarterly dividend will begin with the 147(th) consecutive quarterly dividend declared May 15, 2013 to shareholders of record at the close of business on June 5, 2013 on all shares then issued and outstanding. The dividend will be paid on June 26, 2013.

Annual Meeting of Shareholders