Arkansas Best board issues dividend
by January 28, 2009 3:15 pm 54 views
The board of directors of Fort Smith-based Arkansas Best Corp. approved more than $3.79 million in a dividend payment to its shareholders.
A 15-cent quarterly dividend — the standard amount for the dividend in recent quarters — will be paid Feb. 25 to shareholders of record as of Feb. 11. The company listed more than 25.28 million shareholders in its most recent quarterly filing (10Q).
The company, which operates ABF Freight System, one of the largest less-than-truckload companies in the country, is scheduled to report quarterly earnings tomorrow (Jan. 29).
Analysts surveyed by Thomson Financial estimate quarterly revenue of $413 million, lower than actual revenue of $459.32 million in the same quarter of 2007. The average net income of the 11 analysts is 17 cents per share, or around $4.3 million.
Shares of Arkansas Best (NASDAQ: ABFS) closed Wednesday at $23.89, up 57 cents. During the past 52 weeks, the share price has ranged from a $45.13 high to a $19.41 low.