ArcBest Accelerates Return of Capital to Shareholders with Increased Share Repurchase Program and Quarterly Dividend
Increases Its Share Repurchase Program to $75 Million
Increases Quarterly Dividend 50% to $0.12/Share
Board’s Actions Reflect the Success of ArcBest’s Differentiated Business Model,
Proven Growth Strategy and Balanced Approach to Capital Allocation
FORT SMITH, Arkansas, April 28, 2022 – ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, today announced actions approved by ArcBest’s Board of Directors to accelerate the return of capital and drive enhanced value creation for all ArcBest shareholders.
Share Repurchase Program Reauthorization
ArcBest announced that its Board of Directors has reauthorized its Common Stock repurchase program and increased the total amount available to $75 million.
Quarterly Dividend Increase
ArcBest also announced an increase in its quarterly cash dividend to twelve cents ($0.12) per share, a four cent per share increase over the previous quarterly cash dividend of eight cents ($0.08) per share. The dividend will be paid May 25, 2022, to ArcBest's Common Stock, $0.01 par value, holders of record at the close of business May 11, 2022.
ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with nearly 15,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse, fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages their full suite of shipping and logistics solutions to meet customers’ critical needs, each and every day. For more information, visit arcb.com.
Investor Relations Contact: David Humphrey
Title: Vice President – Investor Relations
Media Contact: Autumnn Mahar
Title: Senior Manager, PR and Social