Marten Transport Declares Quarterly and Special Dividends
MONDOVI, Wis., Nov. 27, 2012 (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (MRTN) announced today that its Board of Directors has declared a regular quarterly cash dividend of two and one half cents ($0.025) per share of common stock and a special cash dividend of 75 cents ($0.75) per share of common stock. The dividends will be payable on December 26, 2012 to stockholders of record at the close of business on December 11, 2012. No portion of either dividend is considered to be a return of capital. The annual yield on the dividends is approximately 4.5%.
The Board's decision to declare the quarterly and special cash dividends reflect Marten's strong financial position and its commitment to enhancing stockholder value. By paying the dividends in calendar year 2012 Marten's stockholders can take advantage of current tax rates which may increase in 2013.
Marten Transport, with headquarters in Mondovi, Wis., is one of the leading temperature-sensitive truckload carriers in the United States. Marten specializes in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Marten offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten's common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.
This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including Marten's current expectations concerning future payment of dividends. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially from those expressed in such forward-looking statements. Important factors known to Marten that could cause actual results to differ materially from those discussed in the forward-looking statements are discussed in Item 1A of Marten's Annual Report on Form 10-K for the year ended December 31, 2011. Marten undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Tim Kohl, President, and Jim Hinnendael, Chief Financial Officer, of Marten Transport, Ltd., 715-926-4216Source: Marten Transport, Ltd. 2012 GlobeNewswire, Inc.