Special Dividend

Heartland’s 50-cent special dividend 2nd by a carrier this week

Heartland Express to pay fourth special dividend in company history

Truckload carrier Heartland Express announced Friday a 50-cent-per-share special dividend. The North Liberty, Iowa-based company also announced an increase of 3 million shares to its buyback program.

The special dividend was announced in addition to its regular quarterly cash dividend of 2 cents per share. The dividends equal approximately $41.1 million in total payments to shareholders, to be distributed on Oct. 1.

Insiders, including Chairman and CEO Mike Gerdin’s family, as well as directors...

https://www.freightwaves.com/news/heartlands-50-cent-special-dividend-2nd-by-a-carrier-this-week

Marten Transport announces 50-cent special dividend

Marten continues to return cash to shareholders through special dividends

Marten Transport announced a special dividend of 50 cents per share Tuesday after the market closed. The Mondovi, Wisconsin-based refrigerated carrier also declared a regular quarterly cash dividend of 4 cents per share.

“The Board’s decision to declare the special and quarterly cash dividends reflects our strong financial position and commitment to enhancing stockholder value,” Randy Marten, executive chairman, stated in a press release. “This special dividend increases our current dividend...

https://www.freightwaves.com/news/marten-transport-announces-50-cent-special-dividend

What now? UAW members reject second tentative agreement at Volvo Trucks

United Auto Workers members at Volvo Trucks North America (VTNA) rejected a second tentative agreement with the truck manufacturer on Sunday, casting greater percentages of no votes than the first proposed contract they rejected in May.

Local 2069 members voted 91% against salary language and 90% against hourly and common language in the proposed six-year agreement, according to a tally sheet posted on the local’s Facebook page.

The local union struck the plant that builds all Volvo trucks for...

https://www.freightwaves.com/news/what-now-uaw-members-reject-second-tentative-agreement-at-volvo-trucks

Landstar ups outlook, contends this cycle may not be different

Landstar truck on highway

Truck broker Landstar System Inc. (NASDAQ: LSTR) sees trends improving thus far in the fourth quarter, producing a new earnings expectation “slightly above” the high end of the company’s initial guidance range issued during the third-quarter report.

Appearing at the Stephens Annual Investment Conference, the Jacksonville, Florida-based company’s president, CEO and interim principal financial officer, Jim Gattoni, said improvement in fundamentals has accelerated as the quarter has progressed....

https://www.freightwaves.com/news/landstar-ups-outlook-contends-this-cycle-may-not-be-different

Landstar eyes record in fourth quarter

Landstar trailer on highway

After posting a second-best third quarter, only to 2018, truck broker Landstar System Inc. (NASDAQ: LSTR) could be closing in on a new record in the fourth quarter.

On the company’s Thursday earnings call, management said the current truck market, highlighted by high demand and tight capacity, should continue through the quarter, noting that the company is operating at peak levels even though peak season hasn’t really kicked in yet.

The Jacksonville, Florida-based company reported third-quarter...

https://www.freightwaves.com/news/landstar-eyes-record-fourth-quarter