Werner Enterprises Announces Quarterly and Special Dividends
OMAHA, Neb.--(BUSINESS WIRE)--Nov. 15, 2011-- Werner Enterprises, Inc. (NASDAQ: WERN), one of the nation’s largest transportation and logistics companies, announced today that its Board of Directors declared a regular quarterly cash dividend of $.050 (5.0 cents) per common share payable to stockholders of record at the close of business on January 9, 2012. This dividend will be paid on January 24, 2012.
Werner Enterprises is currently in its twenty-fifth year of paying quarterly cash dividends on its common stock to its stockholders. The first quarterly cash dividend was paid by Werner Enterprises in July 1987.
Werner also announced that its Board of Directors declared a special cash dividend of $0.50 (50.0 cents) per common share payable to stockholders of record at the close of business on November 30, 2011. This dividend will be paid on December 15, 2011. As a result of the special dividend, a total of approximately $36 million will be paid on Werner’s 72.8 million common shares outstanding. No portion of the $0.50 special dividend is considered to be a return of capital. Werner also paid special cash dividends of $1.60 per common share in December 2010, $1.25 per common share in December 2009, and $2.10 per common share in December 2008.
This is the fourth consecutive year that Werner will pay a special dividend to shareholders as a way to further enhance shareholder return. It is Werner’s intention to continue to expand its profits in the future by keeping its fleet count flat for the near term and increasing its operating margin percentage with improved rates, high utilization and a lean cost structure. Werner also intends to accelerate growth of its non-asset-based logistics services of brokerage, freight management, intermodal and global freight forwarding to create a planned balanced portfolio of revenues comprised of one-way truckload, dedicated and logistics.
Werner Enterprises, Inc. was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America, Asia, Europe, South America, Africa and Australia. Werner maintains its global headquarters in Omaha, Nebraska and maintains offices in the United States, Canada, Mexico, China and Australia. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long-haul, regional and local van; expedited; temperature-controlled; and flatbed services. Werner's Value Added Services portfolio includes freight management, truck brokerage, intermodal, and international services. International services are provided through Werner’s domestic and global subsidiary companies and include ocean, air and ground transportation; freight forwarding; and customs brokerage.
Werner Enterprises, Inc.’s common stock trades on the NASDAQ Global Select MarketSM under the symbol “WERN”. For further information about Werner, visit the company’s website at www.werner.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on information presently available to Werner’s management and are current only as of the date made. Actual results could also differ materially from those anticipated as a result of a number of factors, including, but not limited to, those discussed in Werner’s Annual Report on Form 10-K for the year ended December 31, 2010. For those reasons, undue reliance should not be placed on any forward-looking statement. Werner assumes no duty or obligation to update or revise any forward-looking statement, although it may do so from time to time as management believes is warranted or as may be required by applicable securities law. Any such updates or revisions may be made by filing reports with the U.S. Securities and Exchange Commission, through the issuance of press releases or by other methods of public disclosure.
Source: Werner Enterprises, Inc.
Werner Enterprises, Inc.
John J. Steele, 402-894-3036
Executive Vice President, Treasurer and
Chief Financial Officer
