Knight Transportation (KNX) Approves Special Cash Dividend; CEO Comments On Outlook

Knight Transportation, Inc. (NYSE: KNX) has declared a quarterly cash dividend of $0.06 per share of common stock. Knight's Board of Directors has also declared a special cash dividend of $0.75 per share of common stock. Both dividends are payable to shareholders of record on December 3, 2010 and is expected to be paid on December 23, 2010. Chairman and CEO, Kevin Knight, commented: “...Over the past several months we have expanded our tractor capacity as freight volumes have improved and have invested in maintaining a relatively new tractor fleet. At year end, we expect cash and cash equivalents of approximately $20 million to $30 million, zero debt, and ample sources of liquidity to pursue market opportunities." “Looking ahead, to 2011, we intend to grow each of our six truckload services: dry van, refrigerated, dedicated, brokerage, port services, and intermodal. Based on our market expectations and historical operating margins, we expect to generate sufficient cash to maintain a late-model fleet and internally fund double-digit revenue growth.”... Read more

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