Yahoo Finance Werner (WERN) Rewards Shareholders With 7.7% Dividend Hike
In a shareholder-friendly move, Werner Enterprises, Inc. WERN announced a hike in its dividend payout. Werner’s board of directors approved a dividend hike of 7.7%, thereby raising its quarterly cash dividend to 14 cents from 13 cents per share. The raised dividend will be paid out on Jul 19, 2023 to all its shareholders of record as of Jul 3. The move reflects WERN’s intention to utilize free cash to enhance its shareholders’ returns.
Werner Enterprises, Inc. Dividend Yield (TTM)
Werner Enterprises, Inc. dividend-yield-ttm | Werner Enterprises, Inc. Quote
WERN has been consistently making efforts to reward its shareholders through dividends and share buybacks, which are encouraging. Last year too (in May 2022), WERN announced an 8.3% hike in dividend to 13 cents per share (annualized 52 cents per share).
During first-quarter 2023, Werner paid $8.22 million in dividends but did not repurchase any shares. As of Mar 31, 2023, WERN had 2.3 million shares remaining under its share repurchase authorization.
During 2022, Werner paid $32.2 million in dividends and repurchased shares worth $110.40 million. During 2021, Werner paid $29.08 million in dividends and repurchased shares worth $104.44 million.
Dividend-paying stocks provide a solid income stream and have fewer chances of experiencing wild price swings. Dividend stocks, like WERN, are safe bets for creating wealth, as the payouts generally act as a hedge against economic uncertainty like the current scenario.
WERN management’s decision to increase its quarterly dividend payout reflects the company’s commitment toward boosting shareholder value apart from underlining confidence in its business. We believe that such shareholder-friendly initiatives boost investors’ confidence and positively impact this Zacks Rank #5 (Strong Sell) stock's bottom line.
Stocks to Consider
Investors interested in better-ranked stocks from the Zacks Transportation – Airline industry can consider Copa Holdings, S.A. CPA and Alaska Air Group, Inc. ALK, both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Copa Holdings has an expected earnings growth rate of 44.31% for the current year. CPA delivered a trailing four-quarter earnings surprise of 33.35%, on average.
The Zacks Consensus Estimate for CPA’s current-year earnings has improved 15.3% over the past 90 days. Shares of CPA have soared 22.4% over the past six months.
Alaska Air has an expected earnings growth rate of 44.83% for the current year. The Zacks Consensus Estimate for ALK’s current-year earnings has improved 12.9% over the past 90 days. ALK has a long-term expected growth rate of 24.23%.
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Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
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Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report
