EDEN PRAIRIE, Minn. - C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW), a global logistics company, announced a regular quarterly cash dividend of $0.61 per share. The dividend is payable on July 1, 2024, to shareholders of record as of June 7, 2024. This marks a continuation of the company's practice of distributing uninterrupted dividends, which have seen an annual increase on a per-share basis for twenty-five years.
With approximately 117.1 million shares outstanding as of May 8, 2024, the dividend distribution is part of C.H. Robinson's commitment to delivering value to its shareholders. The company manages $22 billion in freight and handles 19 million shipments each year, making it one of the largest logistics platforms in the world. The company's services span across various industries, providing multimodal transportation management and leveraging technology to offer smart solutions to its extensive customer base.
C.H. Robinson prides itself on being a responsible corporate citizen, contributing to various causes that align with the company's values and the interests of its employees. This dividend announcement is based on a press release statement from C.H. Robinson.
InvestingPro Insights
C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) continues to showcase its commitment to shareholder returns with its latest dividend announcement. The company's consistent dividend policy is reflected in its status as a dividend aristocrat, having raised its dividend for 27 consecutive years, an aspect that is particularly appealing to income-focused investors. This dedication to increasing dividends is further underscored by the company maintaining dividend payments for 28 consecutive years, as highlighted in one of the InvestingPro Tips.
In the realm of financial metrics, the company stands with a market capitalization of $9.52 billion USD. The price-to-earnings (P/E) ratio, a key indicator of market expectations of future earnings growth, is at 29.01 on an adjusted basis for the last twelve months as of Q1 2024. While this suggests a high earnings multiple, it is important to note that 11 analysts have revised their earnings upwards for the upcoming period, indicating potential optimism in the company's earnings trajectory. Additionally, the dividend yield as of the end of February 2024 is 3.01%, which is attractive to those looking for steady income streams from their investments.
For those interested in a deeper analysis, there are many more InvestingPro Tips available for C.H. Robinson Worldwide, Inc. For instance, the company is recognized as a prominent player in the Air Freight & Logistics industry and operates with a moderate level of debt. To explore these insights further and to take advantage of the full range of financial metrics and analyst predictions, readers can visit InvestingPro. Additionally, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, where over 10 additional InvestingPro Tips are waiting to be discovered.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.