Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Declares $0.29 Quarterly Dividend

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) declared a quarterly dividend on Thursday, May 21st. Stockholders 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) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, June 3rd.

Old Dominion Freight Line has raised its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend every year for the last 5 years. Old Dominion Freight Line has a dividend payout ratio of 19.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of ODFL traded down $2.14 during mid-day trading on Thursday, reaching $207.69. The company’s stock had a trading volume of 1,154,086 shares, compared to its average volume of 2,200,952. 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 $43.19 billion, a PE ratio of 43.45, a price-to-earnings-growth ratio of 4.19 and a beta of 1.17. The company’s 50 day moving average is $200.40 and its 200 day moving average is $178.55.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 EPS. As a group, sell-side analysts anticipate that Old Dominion Freight Line will post 5.32 EPS 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.