Marten Transport Announces Special Dividend and Share Repurchase

Marten Transport, Ltd. (MRTN) made two important announcements for shareholders on August 13. First, the Board of Directors declared a special cash dividend payment of $0.65 per share in addition to the regular quarterly dividend of $0.03 per share. The dividends will be paid on September 30 to shareholders of record on August 26. Second, the Board of Directors approved an increase in the current share repurchase program up to $34 million.

 

Jet Equities detected the event and sent an alert at 5:15 pm. The stock opened for the day at $18.92, but the stock price was lower on the day after the announcement. Marten Transport’s stock, however, rebounded in the five days after the announcement. It closed at $19.72 on August 20 for a gain of 4.23%.

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