March 20, 2023

J.B. Hunt to pay 42-cent dividend in February

Lowell-based service J.B. Hunt Transport Companies Inc. introduced Thursday (Jan. 19) it’s going to pay a money dividend of 42 cents per share on Feb. 24 to shareholders of document as of Feb. 10.

The dividend elevated by 2 cents, or 5%, from the earlier quarterly dividend paid in November. The corporate paid a dividend of 40 cents per share for the previous 4 quarterly dividends.

On Wednesday (Jan. 18), the service reported fourth-quarter earnings declined by 16.8% to $201.3 million, or $1.92 per share, from $242.2 million, or $2.28 per share, in the identical interval in 2021. Income rose by 4.3% to $3.64 billion, from $3.49 billion.

In keeping with analysts, J.B. Hunt missed earnings expectations of $2.46 per share and income expectations of $3.82 billion. The outcomes had been affected by a $64 million rise in casualty declare expense, the tax price and an almost $9 million appreciation bonus to workers.

For 2022, the service’s earnings elevated by 27.4% to $969.35 million, or $9.21 per share, from $760.8 million, or $7.14 per share. Income elevated by 21.7% to $14.81 billion, from $12.16 billion.

Shares of J.B. Hunt (NASDAQ: JBHT) closed Thursday at $184.83, down 19 cents or 0.1%. Prior to now 52 weeks, the inventory has ranged between $153.92 and $218.18.

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