Werner Enterprises, one of the largest transportation and logistics companies in the US, announced that its Board of Directors declared a special cash dividend of 50 US cents per common share payable to stockholders of record at the close of business on November 30, 2011. This dividend will be paid on December 15, 2011.
As a result of the special dividend, a total of approximately $36 million will be paid on Werner’s 72.8 million common shares outstanding. No portion of the $0.50 special dividend is considered to be a return of capital. Werner also paid special cash dividends of $1.60 per common share in December 2010, $1.25 per common share in December 2009, and $2.10 per common share in December 2008.
This is the fourth consecutive year that Werner will pay a special dividend to shareholders as a way to further enhance shareholder return. It is Werner’s intention to continue to expand its profits in the future by keeping its fleet count flat for the near term and increasing its operating margin percentage with improved rates, high utilisation and a lean cost structure. Werner also intends to accelerate growth of its non-asset-based logistics services of brokerage, freight management, intermodal and global freight forwarding to create a planned balanced portfolio of revenues comprised of one-way truckload, dedicated and logistics.