Werner Enterprises Announces Quarterly Dividend and New Stock Repurchase Authorization

Rhea-AI Summary

Werner Enterprises, Inc. (NASDAQ: WERN) has declared a quarterly cash dividend of $0.12 per share, payable on January 18, 2022, to shareholders of record by January 3, 2022. The company has consistently paid dividends since July 1987. Additionally, the Board approved a new stock repurchase program allowing the repurchase of up to 6 million shares, withdrawing the previous authorization which had 1.5 million shares left. The repurchase strategy reflects the company's intent to enhance shareholder value amid market conditions.

Positive

• Declaration of a quarterly cash dividend of $0.12 per share.
• New stock repurchase program allows repurchase of up to 6 million shares, enhancing shareholder value.

Negative

• None.

OMAHA, Neb., Nov. 12, 2021 (GLOBE NEWSWIRE) -- Werner Enterprises, Inc. (NASDAQ: WERN), a premier transportation and logistics provider, is pleased to announce the following actions approved by its Board of Directors (the “Board”) on November 9, 2021.

Quarterly Dividends

The Board declared a regular quarterly cash dividend of $0.12 (twelve cents) per common share payable to shareholders of record at the close of business on January 3, 2022. This dividend will be paid on January 18, 2022.

Werner Enterprises has paid a quarterly cash dividend to its stockholders every quarter since July 1987.

Stock Repurchase Program

The Board approved a new stock repurchase program under which Werner is authorized to repurchase up to 6 million shares of its common stock. Upon approval of the new program, the Board withdrew the previous stock repurchase authorization, which had approximately 1.5 million shares remaining available for repurchase. Werner may repurchase stock from time to time depending on market, economic and other factors. The new authorization will continue in the future, unless withdrawn by the Board.

About Werner Enterprises

Werner Enterprises, Inc. (NASDAQ: WERN) delivers superior truckload transportation and logistics services to customers across the United States, Mexico and Canada. With 2020 revenues of $2.4 billion, an industry-leading modern truck and trailer fleet, over 13,000 talented associates and our innovative Werner Edge technology, we are an essential solutions provider for customers who value the integrity of their supply chain and require safe and exceptional on-time service. Werner provides Dedicated and One-Way Truckload services as well as Logistics services that include truckload brokerage, freight management, intermodal and final mile. As an industry leader, Werner is deeply committed to promoting sustainability and supporting diversity, equity and inclusion.

Contact:	John J. Steele
	Executive Vice President, Treasurer
	and Chief Financial Officer
	(402) 894-3036

 

FAQ

What is the dividend amount declared by Werner Enterprises?

Werner Enterprises declared a quarterly cash dividend of $0.12 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on January 18, 2022, to shareholders of record at the close of business on January 3, 2022.

What is the purpose of Werner Enterprises' new stock repurchase program?

The new stock repurchase program aims to enhance shareholder value by allowing the company to repurchase up to 6 million shares.

How does the new stock repurchase program compare to the previous one?

The new program allows for the repurchase of up to 6 million shares, whereas the previous program had approximately 1.5 million shares remaining.