Knight Transportation, Inc.(KNX Quote) announced today that its Board of Directors has declared the company's quarterly cash dividend of $0.06 per share of common stock. This quarterly dividend is pursuant to a cash dividend policy approved by the Board of Directors. The actual declaration of future cash dividends, and the establishment of record and payment dates, is subject to final determination by the Board of Directors each quarter after its review of the company's financial performance.
The company's dividend is payable to shareholders of record on December 3, 2010 and is expected to be paid on December 23, 2010.
Knight also announced that its Board of Directors declared a special cash dividend of $0.75 per share of common stock. The company's special dividend is also payable to shareholders of record on December 3, 2010 and is expected to be paid on December 23, 2010.
The combination of the quarterly and special dividends will pay approximately $68.9 million on Knight's 85.0 million outstanding shares, including restricted stock units. After these dividends, Knight will have returned approximately $170.4 million to its stockholders through a combination of dividends and stock repurchases since January 2008.
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