Covenant Logistics Group, Inc. (CVLG) to Issue Quarterly Dividend of $0.11 on June 28th

Covenant Logistics Group, Inc. (NASDAQ:CVLGGet Free Report) declared a quarterly dividend on Thursday, May 16th, Zacks reports. Shareholders of record on Friday, June 7th will be given a dividend of 0.11 per share on Friday, June 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, June 7th.

Covenant Logistics Group has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Covenant Logistics Group to earn $5.17 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 8.5%.

Covenant Logistics Group Trading Down 0.1 %

CVLG traded down $0.06 on Wednesday, hitting $46.53. The company had a trading volume of 653 shares, compared to its average volume of 69,978. The business’s fifty day simple moving average is $45.91 and its 200 day simple moving average is $46.36. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.47. Covenant Logistics Group has a 12-month low of $38.25 and a 12-month high of $57.57. The company has a market cap of $608.15 million, a PE ratio of 14.93 and a beta of 1.33.

Covenant Logistics Group (NASDAQ:CVLGGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $278.76 million for the quarter. Covenant Logistics Group had a net margin of 3.82% and a return on equity of 14.16%. Equities research analysts expect that Covenant Logistics Group will post 4.12 EPS for the current year.

Insiders Place Their Bets

In other Covenant Logistics Group news, Director D Michael Kramer sold 3,725 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $46.64, for a total transaction of $173,734.00. Following the transaction, the director now directly owns 11,285 shares in the company, valued at approximately $526,332.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 36.50% of the stock is currently owned by company insiders.

About Covenant Logistics Group

(Get Free Report)

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.

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Dividend History for Covenant Logistics Group (NASDAQ:CVLG)

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