Heartland Declares Special Dividend; Approves Share Buyback Plan

Heartland Specific, Inc. (HTLD) has declared a particular dividend of $0.50 per share, together with its common widespread inventory dividend of $0.02 per share. Each the dividends are payable on October 1, 2021, to stockholders of report on the shut of enterprise on September 1, 2021.

Heartland Specific engages within the provision of short-to-medium haul truckload provider providers. Following the announcement, shares of the corporate gained 3.6% on Friday to shut at $16.96.

The corporate mentioned that the particular dividend was to not be deemed as a return of capital. (See Heartland Express stock charts on TipRanks)

In the meantime, the board has accredited share repurchase of as much as 3 million shares of its excellent widespread inventory along with the three,75 million shares remaining beneath a previous authorization. The plan comes with no expiration date and the repurchases will probably be carried out as and when decided by Heartland Specific within the open market or personal transactions.

Final month, Robert W. Baird analyst Garrett Holland maintained a Maintain ranking on the inventory with a worth goal of $19 (upside potential of 12%).

Holland mentioned, “The business pricing outlook has improved and powerful demand appears to be like sturdy and more likely to prolong into 2022, however challenges in attracting drivers probably proceed to weigh on top-line progress and OR enchancment going ahead.”

The remainder of the Avenue is cautiously optimistic concerning the inventory with a Average Purchase consensus ranking primarily based on 2 Buys and three Holds. The average Heartland Express price target of $19.20 implies 13.2% upside potential from present ranges.

TipRanks information exhibits that monetary blogger opinions are 100% Bullish on HTLD, in comparison with the sector common of 71%.

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