01—Abstract
Summary
Summary of the 8-K filed July 18, 2024. Cited figures are marked; the original filing is the authoritative source.
Old Dominion Freight Line (Nasdaq: ODFL) filed a brief Form 8-K under Item 8.01 (Other Events) on July 18, 2024, announcing that its Board of Directors declared a quarterly cash dividend of $0.26a per share.
The dividend is payable September 18, 2024, to shareholders of record at the close of business on September 4, 2024. The filing is a routine capital-return disclosure with no new financial results, guidance, or material operational changes. The press release notes that, after adjusting for the two-for-one stock split completed in March 2024, the $0.26b payment represents a 30% increase over the quarterly dividend paid in September 2023.
For income-focused investors, this signals continued confidence in cash generation and a commitment to returning capital to shareholders, even as the LTL freight sector remains cyclical and under pressure from softer industrial demand. The filing contains no quarterly earnings data, so investors should look to the company's most recent 10-Q and earnings release for operating performance. The accompanying forward-looking statement cautions that future dividends are not guaranteed, and the company explicitly lists the ability or failure to declare future cash dividends among its risk factors.
02—Key points
Key Highlights
- Quarterly cash dividend declared at $0.26 per share of common stock, a routine capital-return action
- Payment date set for September 18, 2024; record date set for September 4, 2024 (shareholders of record at close of business)
- Dividend represents a 30% increase over the quarterly dividend paid in September 2023, adjusted for the March 2024 two-for-one stock split
- Filing is limited to Item 8.01 (Other Events) and Exhibit 99.1 press release; no new financial results or guidance disclosed
- Contact for inquiries: Adam N. Satterfield, EVP and Chief Financial Officer, (336) 822-5721
- Company describes itself as one of the largest North American LTL motor carriers operating a single union-free organization, with value-added services including container drayage, truckload brokerage, and supply chain consulting
- Forward-looking statements caution that future dividends are subject to risk, including the Board's ability or failure to declare future cash dividends
03—Questions
Frequently Asked Questions
How much is the dividend and when do I need to own shares to receive it?
The quarterly cash dividend is $0.26 per share. To receive it, you must be a shareholder of record at the close of business on September 4, 2024. The dividend is payable on September 18, 2024.
How does this dividend compare to prior payments?
The $0.26 payment is a 30% increase over the quarterly dividend paid in September 2023, after adjusting for the two-for-one stock split completed in March 2024.
Does this filing include any financial results or guidance?
No. The filing is limited to the dividend declaration under Item 8.01 and the attached press release. Investors should review the company's most recent quarterly earnings release and Form 10-Q for operating and financial performance.
Is the dividend guaranteed to continue at this level?
No. Dividends must be declared by the Board of Directors each quarter. The company's forward-looking statements explicitly list the ability or failure to declare future cash dividends as a risk factor, so future payments are not assured.
Who should investors contact for questions about the dividend?
The press release lists Adam N. Satterfield, Executive Vice President and Chief Financial Officer, at (336) 822-5721 as the contact.
04—Continue