Heartland Express Inc - HTLD STOCK NEWS

Heartland Express, Inc. (HTLD) announced significant driver pay enhancements, reflecting a commitment to its workforce amid challenging times. The new package includes up to 12.2% rate increases depending on region, with an average rise of 6% across the fleet. New hires can earn between $0.56 and $0.60 per mile based on experience, while current drivers may receive rates as high as $0.65 per mile. The company recognizes up to 10 years of experience for new hires and offers annual safety bonuses. This initiative underscores the company's appreciation for drivers' dedication during the pandemic.

Heartland Express reported strong financial results for Q3 and the first nine months of 2020. For Q3, net income reached $20.7 million with earnings per share at $0.25, while operating revenue increased by 9.7% to $162.3 million. For the nine-month period, net income totaled $53.1 million with a 13.9% revenue increase of $489.5 million. Despite challenges, the company maintained a debt-free balance sheet, with total assets and stockholders' equity also at record highs of $959.8 million and $721.7 million respectively.

Heartland Express (Nasdaq: HTLD) announced a quarterly cash dividend of $0.02 per share, to be paid on October 1, 2020. Shareholders of record by the close of business on September 21, 2020 will benefit from this dividend, totaling approximately $1.6 million for its 81.4 million shares outstanding. This marks the company's sixty-ninth consecutive quarterly cash dividend, contributing to a total of $488.8 million paid since the inception of the dividend program in 2003.

Heartland Express, Inc. (NASDAQ: HTLD) announced an agreement for an underwriter to purchase 3,260,870 shares of its common stock from a selling stockholder at $20.50 per share. An additional 489,130 shares may be purchased within 30 days. Heartland will not receive any proceeds from this offering. The shares are being offered through an effective shelf registration statement with the SEC. Morgan Stanley is the underwriter. This announcement does not constitute a solicitation for securities sales where prohibited.

Heartland Express announced a public secondary offering of 3,260,870 shares of its common stock by a family trust for the benefit of the founding Gerdin family. An additional 489,130 shares may be offered if the underwriter fully exercises its option. After the offering, the Gerdin family and related entities will retain approximately 40% of outstanding shares. Proceeds from the sale will go to the selling stockholder, while Morgan Stanley serves as the underwriter. The offering is made under an effective shelf registration with the SEC.

The Board of Directors of Heartland Express announced a quarterly cash dividend of $0.02 per share, payable on July 1, 2020, to shareholders on record by June 19, 2020. This payment is estimated to total approximately $1.6 million, reflecting the company's commitment to returning value to its shareholders. This marks the sixty-eighth consecutive quarterly cash dividend, contributing to a total of $487.1 million distributed since the dividend program began in 2003.

Heartland Express (HTLD) announced that its management will participate in two virtual conferences: the 2020 KeyBanc Industrials & Basic Materials Conference on May 29, 2020, and the 2020 UBS Global Industrials and Transportation Virtual Conference on June 2, 2020. As an irregular route truckload carrier based in North Liberty, Iowa, Heartland Express specializes in regional freight, providing industry-leading on-time service. For more details, visit www.heartlandexpress.com.