J.B. Hunt increases cash dividend to 40-cents per share

by Jeff Della Rosa ([email protected]) 338 views 

Lowell-based carrier J.B. Hunt Transport Services Inc. announced Thursday (Jan. 20) it will give a 40-cents per share cash dividend on Feb. 18 to shareholders of record as of Feb. 4.

The dividend is a 33% increase from the previous quarterly dividend of 30 cents. The company had given a 30-cents per share dividend in the past two quarters.

On Tuesday, J.B. Hunt reported fourth-quarter net income rose by 57.3% to $242.2 million, or $2.28 per share, from $154 million, or $1.44 per share, in the same period in 2020. Revenue rose by 27.7% to $3.49 billion, from $2.73 billion.

For 2021, net income rose by 50.3% to $760.8 million, or $7.14 per share, from $506 million, or $4.74 per share, in 2020. Revenue increased by 26.3% to $12.16 billion, from $9.63 billion.

Shares of J.B. Hunt (NASDAQ: JBHT) were trading Thursday afternoon at $204.21 per share, up $3.56 or 1.77%. In the past 52 weeks, the stock has ranged between $133.36 and $208.87.