J.B. Hunt Transport Services Inc. JBHT, -0.23% said Thursday it was raising its quarterly dividend by 7.1% to 30 cents a share. The new dividend will be payable May 21 to shareholders of record on May 7. The trucking company’s stock rose 2.0% in afternoon trading.
Based on current prices, the new annual dividend rate implies a dividend yield of 0.71%, which compares with the yield for the SPDR Industrial Select Sector ETF XLI, +1.09% of 1.26% and the implied yield for the S&P 500 SPX, +1.09% of 1.40%, according to FactSet. J.B. Hunt’s stock has rallied 69.6% over the past 12 months, while the industrial ETF has climbed 67.0% and the S&P 500 has advanced 48.5%.