PHOENIX - Knight-Swift Transportation Holdings Inc. (NYSE: KNX), one of North America's largest freight transportation providers, announced a quarterly cash dividend of $0.16 per share. The payout, part of a cash dividend policy by the company's board of directors, is scheduled for stockholders of record as of June 10, 2024, with an expected payment date of June 24, 2024.
The company, which operates the largest tractor fleet in the country and offers a range of truckload services, emphasized that the declaration of future dividends will be determined by the board each quarter after reviewing financial performance. The dividend is consistent with Knight-Swift's approach to provide value to its shareholders while maintaining a strong position in freight and logistics services across North America.
Knight-Swift's press release also included forward-looking statements regarding the dividend declarations, which are subject to various risks and uncertainties. These include the company's financial condition, cash flow needs, legal compliance, and potential restrictions from financing arrangements or changes in tax laws. The company highlighted that while it intends to follow through with future dividends, there can be no guarantee, as the board's approval is required each time.
Investors are advised that the forward-looking statements involve risks that could cause actual results to differ materially from those anticipated. Knight-Swift has directed readers to consider the risk factors outlined in its Annual Report on Form 10-K for the year ended December 31, 2023, and other SEC filings for a comprehensive understanding of these uncertainties.
The information regarding the dividend declaration is based on the latest press release statement from Knight-Swift.
InvestingPro Insights
Knight-Swift Transportation Holdings Inc. (NYSE: KNX) recently maintained its commitment to shareholder returns by declaring a quarterly cash dividend. This announcement aligns with the company's history of dividend reliability, as evidenced by an InvestingPro Tip highlighting that Knight-Swift has raised its dividend for 4 consecutive years and has maintained dividend payments for 21 consecutive years.
However, investors looking at the broader financial picture will note that the company's shares are trading at a high earnings multiple, with a P/E Ratio of 67.89 and an adjusted P/E Ratio for the last twelve months as of Q1 2024 at 98.76. This could suggest a premium valuation for the stock, which is an essential consideration for value-focused investors.
Moreover, with a recent downturn in stock performance, as the price has fallen by -19.87% over the last three months, InvestingPro Tips also indicate that the RSI suggests the stock is in oversold territory. This could be a signal for potential investors that the stock might be poised for a rebound, especially considering that analysts predict the company will be profitable this year.
For investors interested in a more in-depth analysis of Knight-Swift Transportation Holdings Inc., there are additional InvestingPro Tips available, which can be accessed through https://www.investing.com/pro/KNX. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a comprehensive suite of tools and insights to make informed investment decisions.
InvestingPro Data metrics provide further context with a Market Cap of 7420M USD and a Revenue Growth for the last twelve months as of Q1 2024 at 1.23%. These figures, along with the company's dividend yield of 1.38%, could be critical factors for investors considering Knight-Swift as part of their investment portfolio.
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