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. Investors of record on Friday, June 7th will be paid a dividend of 0.11 per share on Friday, June 28th. This represents a $0.44 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, June 7th.

Covenant Logistics Group has a payout ratio of 8.5% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ CVLG traded down $0.20 during mid-day trading on Wednesday, hitting $46.39. 1,469 shares of the company’s stock traded hands, compared to its average volume of 69,978. The company’s 50-day moving average is $45.91 and its two-hundred day moving average is $46.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market capitalization of $606.32 million, a P/E ratio of 14.93 and a beta of 1.33. Covenant Logistics Group has a 1 year low of $38.25 and a 1 year high of $57.57.

Covenant Logistics Group (NASDAQ:CVLGGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The company 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%. On average, equities analysts anticipate that Covenant Logistics Group will post 4.12 EPS for the current fiscal year.

Insider Activity

In related news, Director D Michael Kramer sold 3,725 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $46.64, for a total transaction of $173,734.00. Following the completion of the sale, the director now owns 11,285 shares of the company’s stock, valued at $526,332.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 36.50% of the company’s stock.

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.

Further Reading

Dividend History for Covenant Logistics Group (NASDAQ:CVLG)

Receive News & Ratings for Covenant Logistics Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covenant Logistics Group and related companies with's FREE daily email newsletter.