Knight-Swift boosts dividend by 20%

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Knight-Swift Transportation Holdings Inc. KNX, -1.13% said Friday it raised its quarterly dividend by 20%, to 12 cents a share from 10 cents. The freight transportation company’s new dividend will be payable March 28 to shareholders of record on March 4. Based on Thursday’s stock closing price of $56.74, the new annual dividend rate implies a dividend yield of 0.85%, which compares with the implied yield for the S&P 500 SPX, -2.44% of 1.40%. Knight-Swift’s stock, which was still inactive in premarket trading, has slipped 4.0% over the past three months, while the Dow Jones Transportation Average DJT, -1.72% has declined 7.6% and the S&P 500 has eased 4.3%.

This article was originally published by Marketwatch.com. Read the original article here.

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