Marten Transport (NASDAQ: MRTN) declared a quarterly dividend of $0.04 per share, or $0.16 annualized.

The dividend will be payable on September 30, 2020, to stockholders of record on September 16, 2020, with an ex-dividend date of September 15, 2020.

This is Marten’s 41st consecutive quarterly cash dividend. With the payment of this dividend, Marten will have paid a total of $93.6 million in cash dividends, including special dividends totaling $52.1 million in 2019 and 2012, since the dividend program was implemented in 2010.

The annual yield on the dividend is 0.6 percent.

Share Split

“I am also pleased to announce this stock split which reflects our continued strong financial condition. The increased number of outstanding shares should increase trading activity, or float, in our common stock while our stockholders benefit from the 50% increase in our quarterly dividend cash payout.”

The three-for-two stock split of the company’s common stock will be effected in the form of a stock dividend payable on August 13, 2020 to stockholders of record as of July 30, 2020. Holders of the company’s common stock will receive an additional one-half share for each outstanding share of common stock held as of the record date. The stock split will increase the number of outstanding shares of common stock from approximately 55.1 million to approximately 82.7 million shares.

For a dividend history and other dividend-related data on Marten Transport (MRTN) click here.