Landstar Board Of Directors Increases Number Of Shares Authorized Under Stock Repurchase Program To 3; Co. Also Declares $2/Share Special Cash Dividend Payable Jan. 19 To Stockholders Of Record As Of The Close On Jan. 3
Portfolio Pulse from Benzinga Newsdesk
Landstar's Board of Directors has approved an increase in the number of shares authorized for repurchase to 3 million. Additionally, the company has declared a special cash dividend of $2 per share, payable on January 19 to shareholders of record as of January 3.
December 05, 2023 | 1:17 pm
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Landstar System, Inc. has expanded its stock repurchase program and declared a $2 per share special dividend, signaling confidence in its financial position and a commitment to returning value to shareholders.
The increase in the stock repurchase program and the declaration of a special dividend are typically viewed as positive signals by the market, indicating that the company is in a strong financial position and is committed to returning value to its shareholders. This can lead to increased investor confidence and a potential short-term rise in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100