ArcBest (ARCB) Declares $0.08 Quarterly Dividend, 0.7% Yield; Announces Share Buyback Extension up to $50M (from $6.6M)

ArcBest (NASDAQ: ARCB) declared a quarterly dividend of $0.08 per share, or $0.32 annualized.

The dividend will be payable on February 25, 2021, to stockholders of record on February 11, 2021, with an ex-dividend date of February 10, 2021.

The annual yield on the dividend is 0.7 percent.

Share Buyback Extension

ArcBest also announced that its Board of Directors has extended its share repurchase program by authorizing a total of $50.0 million available for purchases of ArcBest's Common Stock, increasing the balance from the $6.6 million remaining from the extension authorized in 2015. Purchases may be made on the open market or in privately negotiated transactions and are subject to market conditions, corporate, regulatory and other considerations, and the program may be suspended or discontinued at any time by the Board of Directors. The principal purposes of the share repurchase program are to offset dilution from stock issuances under the company's equity incentive plans and enhance long-term stockholder value.

For a dividend history and other dividend-related data on ArcBest (ARCB) click here.

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