C.H. Robinson Increases Quarterly Cash Dividend and Share Repurchase Authorization

Rhea-AI Summary

C.H. Robinson has declared a quarterly cash dividend increase from 51 cents to 55 cents per share, effective January 3, 2022. Shareholders of record on December 13, 2021 will benefit from this increase, marking over twenty years of uninterrupted dividends. Additionally, the Board has authorized an increase in the share repurchase program by 20 million shares, on top of the remaining 2.1 million shares available from a previous authorization. This move aims to enhance shareholder value amidst a strong operational backdrop.

Positive

• Dividend increased from 51 cents to 55 cents per share.
• Uninterrupted dividend distribution for over 20 years.
• Authorization of 20 million share buyback increases shareholder value.

Negative

• None.

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)-- C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW) announced that its Board of Directors today declared an increase to its regular quarterly cash dividend to 55 cents ($0.55) per share from 51 cents ($0.51) per share, payable on January 3, 2022, to shareholders of record on December 13, 2021.

C.H. Robinson has distributed uninterrupted dividends without decline for more than twenty years. As of December 9, 2021, there were approximately 129,471,210 shares outstanding.

In addition, on December 9, 2021, the Board of Directors increased the company’s share repurchase authorization by an additional 20 million shares of common stock. C.H. Robinson had approximately 2.1 million shares remaining under its share repurchase authorization, which was authorized by the Board in May 2018. Repurchases may be made from time to time at prevailing prices in the open market or in privately negotiated transactions, subject to market conditions and other factors.

About C.H. Robinson

C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $26 billion in freight under management and 19 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multimodal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 105,000 customers and 73,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).

Source: C.H. Robinson
CHRW-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20211209005984/en/

Chuck Ives, Director of Investor Relations

Email: chuck.ives@chrobinson.com

Source: C.H. Robinson

FAQ

What is the new dividend amount declared by C.H. Robinson?

C.H. Robinson announced a new quarterly cash dividend of 55 cents per share.

When will the new dividend be paid out?

The new dividend will be payable on January 3, 2022.

How many shares are remaining under C.H. Robinson's share repurchase authorization?

C.H. Robinson had approximately 2.1 million shares remaining before the new authorization of 20 million shares.

What is the purpose of C.H. Robinson's share repurchase program?

The share repurchase program is aimed at enhancing shareholder value.