ArcBest Accelerates Return of Capital to Shareholders with Increased Share Repurchase Program and Quarterly Dividend

Rhea-AI Summary

ArcBest has announced an increase in its share repurchase program to $75 million and a 50% increase in its quarterly dividend to $0.12 per share. These actions reflect the company's successful growth strategy and commitment to enhancing shareholder value. The dividend will be payable on May 25, 2022, to shareholders on record by May 11, 2022.

Positive

• Increased share repurchase program to $75 million enhances shareholder value.
• Quarterly dividend raised by 50% to $0.12 per share, demonstrating confidence in future growth.

Negative

• None.

Increases Its Share Repurchase Program to $75 Million 

Increases Quarterly Dividend 50% to $0.12/Share

Board's Actions Reflect the Success of ArcBest's Differentiated Business Model, Proven Growth Strategy and Balanced Approach to Capital Allocation

FORT SMITH, Ark., April 28, 2022 /PRNewswire/ -- ArcBest^® (Nasdaq: ARCB), a leader in supply chain logistics, today announced actions approved by ArcBest's Board of Directors to accelerate the return of capital and drive enhanced value creation for all ArcBest shareholders.

Share Repurchase Program Reauthorization

ArcBest announced that its Board of Directors has reauthorized its Common Stock repurchase program and increased the total amount available to $75 million.

Quarterly Dividend Increase

ArcBest also announced an increase in its quarterly cash dividend to twelve cents ($0.12) per share, a four cent per share increase over the previous quarterly cash dividend of eight cents ($0.08) per share.  The dividend will be paid May 25, 2022, to ArcBest's Common Stock, $0.01 par value, holders of record at the close of business May 11, 2022.

ABOUT ARCBEST
ArcBest^® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with nearly 15,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse, fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages their full suite of shipping and logistics solutions to meet customers' critical needs, each and every day. For more information, visit arcb.com.

Investor Relations Contact: David Humphrey         
Title: Vice President – Investor Relations                                     
Phone: 479-785-6200
Email: dhumphrey@arcb.com                                                         

Media Contact: Autumnn Mahar
Title: Senior Manager, PR and Social
Phone: 479-494-8221
Email: amahar@arcb.com

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SOURCE ArcBest

FAQ

What is the new amount for ArcBest's share repurchase program?

ArcBest has increased its share repurchase program to $75 million.

How much is the new quarterly dividend for ArcBest?

The quarterly dividend has been increased to $0.12 per share.

When will ArcBest's increased dividend be paid?

The increased dividend will be paid on May 25, 2022.

What was the previous quarterly dividend amount for ArcBest?

The previous quarterly dividend was $0.08 per share.