Yahoo Finance C.H. Robinson Rewards Shareholders With 2% Dividend Hike
In a shareholder-friendly move, C.H. Robinson Worldwide CHRW announced a hike in its dividend payout. The move is reflective of the company’s intention to utilize free cash for enhancing shareholders’ returns.
Notably, the company raised its quarterly dividend by 2% to 51 cents a share (or $2.04 annually) from 50 cents (or $2 annually). The new dividend, which has been approved by C.H. Robinson’s board of directors, will be paid on Dec 31, 2019, to its stockholders of record as on Dec 16. The dividend yield based on the new payout and its Dec 6 closing price is 2.68%.
A look at this Minnesota-based company’s the past records reveal that it has a stable dividend payment history. The company has been paying quarterly dividends for more than 25 years now. Also, Kansas City Southern KSU, Trinity Industries TRN and Southwest Airlines LUV, belonging to the Zacks Transportation sector, raised dividend payouts this year.
Price Performance
Shares of C.H. Robinson have had a tough run on the bourses lately. In the past three months, the stock has declined 12.4% against its industry’s 0.2% growth.
The sluggish freight environment mainly due to the trade-related uncertainty is hurting C.H. Robinson’s volumes. The company has a Zacks Rank #5 (Strong Sell).
We believe that the management’s decision to increase dividend in such a tough backdrop is commendable. Needless to say, investors are always on the lookout for companies with a track good record of consistent and incremental dividend payments.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Southwest Airlines Co. (LUV) : Free Stock Analysis Report
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C.H. Robinson Worldwide, Inc. (CHRW) : Free Stock Analysis Report
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