Arkansas Best Corp. issues dividend

Fort Smith-based Arkansas Best Corp. announced Tuesday (April 21) a quarterly cash dividend of 15 cents payable May 19 to shareholders of record on May 5.

The company is set to release first quarter earnings Wednesday (April 22), with market analysts predicting an earnings per share loss of 40 cents (estimated $360.76 million revenue compared to $447.51 million actual revenue in the same quarter of 2008.). The less-than-truckload company, like the rest of the national trucking sector, is suffering through an almost three-year freight recession. The company recorded a fourth-quarter net income loss of $10.97 million, compared to a net income of $13.48 million in the same quarter of 2007.

The less-than-truckload carrier said its 2008 net income was $29.16 million, a drop from its 2007 net income of $56.82 million. Its revenue in 2008 was $1.833 billion, slightly below the $1.836 billion in 2007.

Shares of Arkansas Best (NASDAQ: ABFS) closed Tuesday at $22.75, up 82 cents. During the past 52 weeks, the share price has ranged from a $45.13 high to a $15.84 low.