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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of 0.29 per share by the transportation company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, September 2nd.

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 annually for the last 5 consecutive years. Old Dominion Freight Line has a payout ratio of 19.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Old Dominion Freight Line to earn $6.50 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 17.8%.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded down $2.09 during mid-day trading on Thursday, hitting $230.71. 898,151 shares of the stock traded hands, compared to its average volume of 2,093,152. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $252.03. The firm has a market cap of $47.98 billion, a price-to-earnings ratio of 48.27, a price-to-earnings-growth ratio of 4.24 and a beta of 1.18. The company’s 50-day simple moving average is $224.26 and its 200-day simple moving average is $204.07.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The company 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 company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 EPS. Analysts forecast that Old Dominion Freight Line will post 5.56 earnings per share for the current 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.