MARTEN TRANSPORT DECLARES QUARTERLY DIVIDEND

Rhea-AI Summary

Marten Transport, (Nasdaq: MRTN) declared a regular quarterly cash dividend of $0.06 per share of common stock, marking its 56th consecutive dividend payment. The total cash dividends paid now amount to $241.9 million with additional special dividends since 2010. Marten Transport operates in various transportation segments, specializing in temperature-sensitive truckload services in the U.S., Mexico, and Canada.

Positive

• Consistent dividend payments show financial stability and shareholder-friendly policies.

• Strong track record of dividend payments and additional special dividends reflect the company's commitment to rewarding investors.

• Marten Transport's diverse business platforms offer a wide range of transportation services, enhancing revenue streams and market presence.

Negative

• None.

MONDOVI, Wis., May 07, 2024 (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (Nasdaq/GS:MRTN) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.06 per share of common stock. The dividend will be payable on June 28, 2024 to stockholders of record at the close of business on June 14, 2024.

This is Marten’s 56^th consecutive quarterly cash dividend. With the payment of this dividend, Marten will have paid a total of $241.9 million in cash dividends, including special dividends totaling $134.9 million in 2021, 2020, 2019 and 2012, since the dividend program was implemented in 2010.

Marten Transport, with headquarters in Mondovi, Wis., is a multifaceted business offering a network of refrigerated and dry truck-based transportation capabilities across the Company’s five distinct business platforms – Truckload, Dedicated, Intermodal, Brokerage and MRTN de Mexico. Marten is one of the leading temperature-sensitive truckload carriers in the United States, specializing in transporting and distributing food, beverages and other consumer packaged goods that require a temperature-controlled or insulated environment. The Company offers service in the United States, Mexico and Canada, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.

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, including Marten’s current expectations concerning future payment of dividends. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially from those expressed in such forward-looking statements. Important factors known to Marten that could cause actual results to differ materially from those discussed in the forward-looking statements are discussed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Marten undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What is the dividend amount declared by Marten Transport?

Marten Transport declared a regular quarterly cash dividend of $0.06 per share of common stock.

When will the dividend be payable to stockholders?

The dividend will be payable on June 28, 2024.

How many consecutive quarterly cash dividends has Marten Transport paid?

Marten Transport has paid its 56th consecutive quarterly cash dividend.

Where is Marten Transport headquartered?

Marten Transport is headquartered in Mondovi, Wisconsin.

What type of transportation services does Marten Transport specialize in?

Marten Transport specializes in temperature-sensitive truckload services for food, beverages, and consumer packaged goods.

On which stock exchange is Marten Transport's common stock traded?

Marten Transport's common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.