Arcbest Corp 8-K, filed Apr 28, 2022
Arcbest Corp /Tx/ (ARCB)
About this 8-K
Arcbest Corp filed this 8-K on April 28, 2022, reporting on events of April 27, 2022.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
June 30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 28, 2022 (
(Exact name of registrant as specified in its charter)
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(
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ITEM 8.01 – OTHER EVENTS
On April 28, 2022, ArcBest® (Nasdaq: ARCB) issued a press release announcing the approval by the Board of Directors (“the Board”) of a quarterly cash dividend of $0.12 per share to holders of record on May 11, 2022, payable on May 25, 2022. ArcBest also announced the Board has reauthorized the Company’s Common Stock repurchase program and increased the total amount available to $75 million.
A copy of the press release is filed as an exhibit to this Current Report on Form 8-K.
ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No. | | Description of Exhibit |
| | |
99.1 | | |
104 | | Cover Page Interactive Data File – The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | ARCBEST CORPORATION |
| | | |
| | | (Registrant) |
| | | |
Date: | April 28, 2022 | | /s/ Michael R. Johns |
| Michael R. Johns | ||
| Vice President – General Counsel | ||
| and Corporate Secretary | ||
Exhibit 99.1
Investor Relations Contact: David Humphrey | |
Title: Vice President – Investor Relations | |
Phone: 479-785-6200 | |
Email: dhumphrey@arcb.com | |
Media Contact: Autumnn Mahar | |
Title: Senior Manager, PR and Social | |
Phone: 479-494-8221 | |
Email: amahar@arcb.com | |
ArcBest Accelerates Return of Capital to Shareholders
with Increased Share Repurchase Program and Quarterly Dividend
Increases Its Share Repurchase Program to $75 Million
Increases Quarterly Dividend 50% to $0.12/Share
Board’s Actions Reflect the Success of ArcBest’s Differentiated Business Model,
Proven Growth Strategy and Balanced Approach to Capital Allocation
FORT SMITH, Arkansas, April 28, 2022 – ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, today announced actions approved by ArcBest’s Board of Directors to accelerate the return of capital and drive enhanced value creation for all ArcBest shareholders.
Share Repurchase Program Reauthorization
ArcBest announced that its Board of Directors has reauthorized its Common Stock repurchase program and increased the total amount available to $75 million.
Quarterly Dividend Increase
ArcBest also announced an increase in its quarterly cash dividend to twelve cents ($0.12) per share, a four cent per share increase over the previous quarterly cash dividend of eight cents ($0.08) per share. The dividend will be paid May 25, 2022, to ArcBest's Common Stock, $0.01 par value, holders of record at the close of business May 11, 2022.
ABOUT ARCBEST
ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with nearly 15,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse, fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages their full suite of shipping and logistics solutions to meet customers’ critical needs, each and every day. For more information, visit arcb.com.
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