Investors Cheer ArcBest' Dividend, New $100M ASR Program

ArcBest Corp ARCB declared a quarterly cash dividend of $0.08 per share payable on November 26, 2021, to record holders on November 12, 2021.
The board also authorized ArcBest to enter into an accelerated share repurchase program with Morgan Stanley & Co. LLC to repurchase $100 million of common stock.
The ASR authorization is in addition to the approval under the existing ArcBest share repurchase program, which currently has $41.9 million available.
The company intends to enter into the ASR shortly after its earnings release for the third quarter of 2021, scheduled for November 2, 2021.
Price Action: ARCB shares are trading higher by 5.98% at $95.22 on the last check on Monday.