J.B. Hunt to pay 42-cent dividend in February
by January 19, 2023 3:51 pm 524 views
Lowell-based carrier J.B. Hunt Transport Services Inc. announced Thursday (Jan. 19) it will pay a cash dividend of 42 cents per share on Feb. 24 to shareholders of record as of Feb. 10.
The dividend increased by 2 cents, or 5%, from the previous quarterly dividend paid in November. The company paid a dividend of 40 cents per share for the past four quarterly dividends.
On Wednesday (Jan. 18), the carrier reported fourth-quarter earnings declined by 16.8% to $201.3 million, or $1.92 per share, from $242.2 million, or $2.28 per share, in the same period in 2021. Revenue rose by 4.3% to $3.64 billion, from $3.49 billion.
According to analysts, J.B. Hunt missed earnings expectations of $2.46 per share and revenue expectations of $3.82 billion. The results were affected by a $64 million rise in casualty claim expense, the tax rate and a nearly $9 million appreciation bonus to employees.
For 2022, the carrier’s earnings increased by 27.4% to $969.35 million, or $9.21 per share, from $760.8 million, or $7.14 per share. Revenue increased by 21.7% to $14.81 billion, from $12.16 billion.
Shares of J.B. Hunt (NASDAQ: JBHT) closed Thursday at $184.83, down 19 cents or 0.1%. In the past 52 weeks, the stock has ranged between $153.92 and $218.18.