J.B. Hunt announces 1-cent per share dividend increase
J.B. Hunt Transport Services announced Wednesday (Jan. 25) it will pay its shareholders a 23-cents per share cash dividend on Feb. 24 to shareholders of record on Feb. 10, according to a news release. This is an increase of 4.5% from the previous quarterly dividend of 22 cents per share, the same dividend that had been handed out over the past three quarters.
The Lowell-based carrier’s Board of Directors “concluded that the earnings and cash flow growth generated in recent years warranted a higher dividend,” according to the release. For fiscal 2016, earnings increased 1% to $432.09 million, or $3.81 per share, up from $427.235 million, or $3.66 per share, in 2015. Revenue rose 5.9% to $6.555 billion, from $6.187 billion.
J.B. Hunt shares (NASDAQ: JBHT) closed at $98.54, up $2.06 or 2.14%, on Jan. 25. In the past 52 weeks, the stock has traded between $102.38 and $69.19.