Knight-Swift Transportation Holdings Inc. (NYSE: KNX):
Knight-Swift Appoints Louis Hobson to the Board
Knight-Swift Transportation Holdings Inc. (NYSE: KNX) (the "Company" or "Knight-Swift") announced today that Louis Hobson has joined Knight-Swift's Board of Directors (the "Board") effective immediately. Mr. Hobson will serve until the 2022 annual meeting of stockholders, after which he will be subject to annual election thereafter. Mr. Hobson was also appointed to the Audit Committee and the Nominating and Corporate Governance Committee of the Board.
Mr. Hobson currently serves as the Senior Vice President responsible for North American Flood Insurance at Chubb, a property and casualty insurance company. Prior to Chubb, Mr. Hobson served as the CEO of National Flood Services, a flood insurance company, from January 2017 to November 2018 and as Executive Vice President, Aon National Flood Services, at Aon, a financial services and insurance company, from January 2015 to January 2017. From 2004 to 2013, Mr. Hobson was a Principal with the Boston Consulting Group, a management consulting firm, where he served as an advisor to C-suite executives of Fortune 500 companies, providing counsel on a wide range of topics, including competition, growth, turnaround, and talent.
Mr. Hobson holds a Bachelor of Science degree in Electrical Engineering and a Master’s degree in Business Administration, both from Stanford University. Mr. Hobson is a former Stanford football player, two-year starter at Defensive End and member of Stanford’s 2000 Rose Bowl team. He was named First-Team Academic All-Pac-10 in 2002. The Board believes Mr. Hobson’s experience in risk management and financial services, as well as his experience in management consulting, will bring meaningful insight to the Board.
Quarterly Cash Dividend
The Company also announced that the Board has declared the Company’s quarterly cash dividend of $0.10 per share of common stock. The Company's quarterly dividends are pursuant to a cash dividend policy approved by the Board. The actual declaration of future cash dividends, and the establishment of record and payment dates, is subject to final determination by the Board each quarter after its review of the Company’s financial performance.
The Company’s dividend is payable to stockholders of record on December 3, 2021 and is expected to be paid on December 27, 2021.
Knight-Swift Transportation Holdings Inc. is one of North America's largest and most diversified freight transportation companies, providing multiple truckload transportation and logistics services, as well as LTL services through ACT (beginning in July 2021). Knight-Swift uses a nationwide network of business units and terminals in the United States and Mexico to serve customers throughout North America. In addition to operating the country's largest tractor fleet, Knight-Swift also contracts with third-party equipment providers to provide a broad range of truckload services to our customers while creating quality driving jobs for our driving associates and successful business opportunities for independent contractors.
This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical or current fact, are statements that could be deemed forward-looking statements, including, without limitation, statements relating to our declaration of quarterly dividends. Forward-looking statements are based on the current beliefs, assumptions, and expectations of management and current market conditions. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. There can be no assurance that future dividends will be declared. The declaration of future dividends is subject to approval of the Board and various risks and uncertainties, including, but not limited to: our cash flow and cash needs; compliance with applicable law; restrictions on the payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; deterioration in our financial condition or results, and those risks, uncertainties, and other factors identified from time-to-time in our filings with the Securities and Exchange Commission. Readers should review and consider the factors that may affect future results and other disclosures in the Risk Factors section of Knight-Swift's Annual Report on Form 10-K for the year ended December 31, 2020, Knight-Swift's Quarterly Reports on Form 10-Q for the quarters ended June 30, 2021, and September 30, 2021, and various disclosures in our press releases, stockholder reports, and other filings with the Securities and Exchange Commission. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.
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