Knight Transportation Announces Special Dividends

Deutsche Bank published an alert yesterday on Knight Transportation KNX after they announced special dividends of $0.75/share. KNX will pay the special dividends along with the $0.06/share regular quarterly dividend on December 23, 2010. Deutsche Bank stated, "We expect shares to react favorably to this unexpected $0.75/share special dividend as it implies strong cash generation QTD and over 8% of KNX's float is short, according to Bloomberg." KNX closed Thursday at $18.20.