Knight-Swift Transportation Holdings Inc. Announces an Increase in Quarterly Cash Dividend

Rhea-AI Summary

Knight-Swift Transportation Holdings Inc. (NYSE: KNX) has declared a quarterly cash dividend of $0.10 per share, up by $0.02 from the previous $0.08. This dividend reflects the company's financial stability and is based on a policy approved by the board. The dividend will be payable to stockholders of record on June 4, 2021, with an expected payment date of June 28, 2021. Knight-Swift operates the largest tractor fleet in North America and offers extensive transportation and logistics services.

Positive

• Quarterly cash dividend increased to $0.10 per share, indicating company confidence and financial health.
• Dividend payment date set for June 28, 2021, enhancing shareholder value.

Negative

• Future dividends are contingent on board approval and could be impacted by financial condition.
• Potential risks include cash flow issues and compliance with financing arrangements affecting dividend payments.

Knight-Swift Transportation Holdings Inc. (NYSE: KNX) (the “Company”) announced today that its board of directors has declared the Company’s quarterly cash dividend of $0.10 per share of common stock, which is a $0.02 increase from the Company's existing quarterly dividend of $0.08 per share of common stock. The Company's quarterly dividends are pursuant to a cash dividend policy approved by its board of directors. The actual declaration of future cash dividends, and the establishment of record and payment dates, is subject to final determination by the board of directors each quarter after its review of the Company’s financial performance.

The Company’s dividend is payable to stockholders of record on June 4, 2021 and is expected to be paid on June 28, 2021.

Knight-Swift Transportation Holdings Inc. is a provider of multiple truckload transportation and logistics services using a nationwide network of business units and terminals in the United States and Mexico to serve customers throughout North America. In addition to operating North America's largest tractor fleet, Knight-Swift also contracts with third-party equipment providers to provide a broad range of truckload services to its customers while creating quality driving jobs for our driving associates and successful business opportunities for independent contractors.

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical or current fact, are statements that could be deemed forward-looking statements, including, without limitation, statements relating to our declaration of quarterly dividends. Forward-looking statements are based on the current beliefs, assumptions, and expectations of management and current market conditions. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. There can be no assurance that future dividends will be declared. The declaration of future dividends is subject to approval of our board of directors and various risks and uncertainties, including, but not limited to: our cash flow and cash needs; compliance with applicable law; restrictions on the payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; deterioration in our financial condition or results, and those risks, uncertainties, and other factors identified from time-to-time in our filings with the Securities and Exchange Commission. Readers should review and consider the factors that may affect future results and other disclosures in the Risk Factors section of Knight-Swift Transportation Holdings Inc.'s Annual Report on Form 10-K for the year ended December 31, 2020, and various disclosures in our press releases, stockholder reports, and other filings with the Securities and Exchange Commission. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210419005098/en/

FAQ

What is the new dividend amount for Knight-Swift Transportation Holdings Inc. (KNX)?

The new dividend amount is $0.10 per share, an increase from $0.08.

When will the dividend be paid to shareholders of KNX?

The dividend is expected to be paid on June 28, 2021.

Who is eligible to receive the dividend from KNX?

Stockholders of record on June 4, 2021, are eligible to receive the dividend.

What factors could affect future dividend payments for KNX?

Future dividends are subject to approval by the board and influenced by cash flow, financial condition, and legal compliance.