Covenant Logistics (CVLG) announced that its board of directors has declared a two-for-one stock split of Covenant’s Class A common stock and Class B common stock to make Covenant’s stock more accessible to investors and employees. The stock split will be effected by means of a stock dividend to the holders of record of Covenant’s Class A common stock and Class B common stock as of the close of business on December 20, the record date for the dividend. As a result of the dividend, each holder of a share of Covenant’s Class A common stock will receive one additional share of Class A common stock and each holder of a share of Covenant’s Class B common stock will receive one additional share of Class B common stock. In each case, the shares are expected to be distributed after the close of trading on December 31. Trading is expected to commence on a split-adjusted basis at market open on January 2, 2025. The stock dividend will not have any impact on the voting and other rights of stockholders.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CVLG:
- Covenant Logistics price target lowered to $69 from $70 at TD Cowen
- Covenant Logistics reports Q3 EPS $1.09, consensus $1.10
- CVLG Earnings this Week: How Will it Perform?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
