Landstar System, Inc. (NASDAQ:LSTR) Plans Quarterly Dividend of $0.44

Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Tuesday, August 18th will be paid a dividend of 0.44 per share by the transportation company on Wednesday, September 9th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 18th. This is a 10.0% increase from Landstar System’s previous quarterly dividend of $0.40.

Landstar System has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 10 years. Landstar System has a payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Landstar System to earn $7.28 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 22.0%.

Landstar System Stock Down 3.3%

Shares of LSTR opened at $179.12 on Wednesday. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 49.95 and a beta of 0.89. Landstar System has a 52 week low of $119.32 and a 52 week high of $228.46. The stock’s 50-day moving average price is $208.49 and its 200-day moving average price is $177.83. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $1.20 earnings per share. The firm’s revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts predict that Landstar System will post 5.73 EPS for the current year.

Landstar System announced that its Board of Directors has approved a share repurchase program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization permits the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.