The revised dividend, amounting to $5.76 annually, reflects a yield of approximately 2.68% based on the stock’s Wednesday closing price of $214.57. Shareholders of record as of August 14 will receive the distribution on September 1.
This capital return move coincides with high-level corporate maneuvering. Penske Corp. and Mitsui, which maintain a combined 73% ownership stake in the firm, initiated the bid to take the transportation-services company private. In response to the offer, the board has appointed a special committee tasked with evaluating the proposal.
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