Knight Transportation Announces Increased Quarterly Cash Dividend
May 20 2010 - 4:30PM
Business Wire
Knight Transportation, Inc. (NYSE: KNX) announced today that its
Board of Directors has declared an increase of the company’s
quarterly cash dividend to $0.06 per share of common stock. Prior
to this 20% increase, the company’s quarterly dividend had been
$0.05 per share of common stock. This quarterly dividend is
pursuant to a cash dividend policy approved by the 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 shareholders of record on
June 4, 2010 and is expected to be paid on June 25, 2010.
Knight Transportation, Inc. is a truckload carrier offering dry
van, refrigerated, intermodal and brokerage services to customers
through a network of service centers located throughout the United
States serving North America. As “Your Hometown National Carrier,”
Knight strives to offer customers and drivers personal service and
attention through each service center, while offering integrated
freight transportation nationwide and beyond through the scale of
one of North America’s largest trucking companies. The principal
types of freight we transport include consumer staples, retail,
paper products, packaging/plastics, manufacturing, and
import/export commodities.
This press release contains 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, relating to our quarterly dividend. There can be no
assurance that future dividends will be declared. The declaration
of future dividends is also subject to approval of our Board of
Directors each quarter after its review of our financial
performance and cash needs. Declaration of future dividends is also
subject to various risks and uncertainties, including: our cash
flow and cash needs; compliance with applicable law; restriction on
the payment of dividends under existing or future financing
arrangements; changes in tax laws relating to corporate dividends;
the 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.
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