Old Dominion Freight Line, Inc. (ODFL) to Issue Quarterly Dividend of $0.29 on June 17th

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) declared a quarterly dividend on Thursday, May 21st. Shareholders of record on Wednesday, June 3rd will be given a dividend of 0.29 per share by the transportation company on Wednesday, June 17th. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, June 3rd.

Old Dominion Freight Line has raised its dividend by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 5 years. Old Dominion Freight Line has a dividend payout ratio of 19.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Old Dominion Freight Line to earn $6.24 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 18.6%.

Old Dominion Freight Line Trading Up 1.3%

Shares of Old Dominion Freight Line stock opened at $210.47 on Friday. The company has a fifty day simple moving average of $201.08 and a 200-day simple moving average of $179.25. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $233.79. The stock has a market cap of $43.77 billion, a price-to-earnings ratio of 44.03, a PEG ratio of 4.25 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. Old Dominion Freight Line’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts forecast that Old Dominion Freight Line will post 5.32 earnings per share for the current fiscal year.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.