Truck broker Landstar System announced Wednesday it will use 2021’s record performance to pay shareholders a $2-per-share special dividend.
Landstar System announced after the market close on Wednesday what it would do with cash on the balance sheet. The company plans to pay a one-time special dividend of $2 per share in January.
The strength in truckload fundamentals didn’t really show in Schneider National’s third-quarter report. Lower revenue per truck, intermodal rail congestion and brokerage malaise overshadowed the announcement of a $2 special dividend.
Schneider National announces a $2 special dividend answering the mounting questions around the carrier’s future cash deployment. After the $355 million payment, the company still has ample cash to pursue other initiatives.
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