Covenant Logistics Group Announces Two-For-One Stock Split
Covenant Logistics Group (NYSE: CVLG) has announced a two-for-one stock split of its Class A and Class B common stock, aimed at improving stock accessibility for investors and employees. The split will be executed through a stock dividend, with stockholders of record as of December 20, 2024, receiving one additional share for each share held. The distribution is scheduled for December 31, 2024, with split-adjusted trading beginning on January 2, 2025.
The stock split will maintain all existing stockholder voting and other rights. Covenant provides transportation and logistics services across the United States, including asset-based expedited and dedicated truckload capacity, asset-light warehousing, transportation management, and freight brokerage services.
Covenant Logistics Group (NYSE: CVLG) ha annunciato un frazionamento azionario di due a uno delle sue azioni comuni di Classe A e Classe B, con l'obiettivo di migliorare l'accessibilit脿 delle azioni per gli investitori e i dipendenti. Il frazionamento sar脿 attuato tramite un dividendo azionario, con gli azionisti registrati al 20 dicembre 2024 che riceveranno un'azione aggiuntiva per ogni azione posseduta. La distribuzione 猫 programmata per il 31 dicembre 2024, con l'inizio del trading adeguato per il frazionamento a partire dal 2 gennaio 2025.
Il frazionamento azionario manterr脿 tutti i diritti di voto e altri diritti esistenti degli azionisti. Covenant fornisce servizi di trasporto e logistica in tutto il territorio degli Stati Uniti, inclusi capacit脿 di carico a pagamento accelerato e dedicato, magazzinaggio light asset, gestione dei trasporti e servizi di intermediazione merci.
Covenant Logistics Group (NYSE: CVLG) ha anunciado un split de acciones de dos por uno de sus acciones ordinarias de Clase A y Clase B, con el objetivo de mejorar la accesibilidad de las acciones para los inversores y empleados. El split se llevar谩 a cabo mediante un dividendo de acciones, donde los accionistas registrados a partir del 20 de diciembre de 2024 recibir谩n una acci贸n adicional por cada acci贸n que posean. La distribuci贸n est谩 programada para el 31 de diciembre de 2024 y las transacciones ajustadas comenzar谩n el 2 de enero de 2025.
El split de acciones mantendr谩 todos los derechos de voto y otros derechos existentes de los accionistas. Covenant proporciona servicios de transporte y log铆stica en todo Estados Unidos, incluyendo capacidad de carga acelerada y dedicada basada en activos, almacenamiento ligero, gesti贸n de transporte y servicios de corretaje de carga.
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Covenant Logistics Group (NYSE: CVLG) a annonc茅 un fractionnement d'actions de deux pour un de ses actions ordinaires de classe A et B, visant 脿 am茅liorer l'accessibilit茅 des actions pour les investisseurs et les employ茅s. Le fractionnement sera effectu茅 par le biais d'un dividende d'actions, les actionnaires enregistr茅s au 20 d茅cembre 2024 recevant une action suppl茅mentaire pour chaque action d茅tenue. La distribution est pr茅vue pour le 31 d茅cembre 2024, avec le d茅but des transactions ajust茅es au fractionnement le 2 janvier 2025.
Le fractionnement des actions maintiendra tous les droits de vote et autres droits existants des actionnaires. Covenant fournit des services de transport et de logistique 脿 travers les 脡tats-Unis, y compris des capacit茅s de chargement acc茅l茅r茅es et d茅di茅es bas茅es sur les actifs, des entrep么ts l茅gers, la gestion des transports et des services de courtage de fret.
Covenant Logistics Group (NYSE: CVLG) hat einen Aktiensplit im Verh盲ltnis 2 zu 1 f眉r ihre Stammaktien der Klassen A und B angek眉ndigt, um die Erreichbarkeit der Aktien f眉r Investoren und Mitarbeiter zu verbessern. Der Split wird durch eine Aktiendividende durchgef眉hrt, wobei die Aktion盲re, die am 20. Dezember 2024 registriert sind, eine zus盲tzliche Aktie f眉r jede gehaltene Aktie erhalten. Die Verteilung ist f眉r den 31. Dezember 2024 geplant, und der handel mit angepassten Aktien beginnt am 2. Januar 2025.
Der Aktiensplit wird alle bestehenden Abstimmungs- und sonstigen Rechte der Aktion盲re aufrechterhalten. Covenant bietet Transport- und Logistikdienstleistungen in den gesamten Vereinigten Staaten an, einschlie脽lich anlagenbasierter Eil- und dedizierter Lkw-Kapazit盲t, anlagenleichten Lagerung, Transportmanagement und Frachtvermittlungsdiensten.
- Stock split aims to increase stock accessibility and liquidity
- No impact on shareholder voting rights or ownership proportions
- None.
Insights
CHATTANOOGA, Tenn., Dec. 06, 2024 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE: CVLG) (鈥淐ovenant鈥� or the 鈥淐ompany鈥�) announced today that its board of directors has declared a two-for-one stock split of Covenant鈥檚 Class A common stock and Class B common stock to make Covenant鈥檚 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鈥檚 Class A common stock and Class B common stock as of the close of business on December 20, 2024, the record date for the dividend.
As a result of the dividend, each holder of a share of Covenant鈥檚 Class A common stock will receive one additional share of Class A common stock and each holder of a share of Covenant鈥檚 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, 2024. 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.
About Covenant
Covenant Logistics Group, Inc., through its subsidiaries, offers a portfolio of transportation and logistics services to customers throughout the United States. Primary services include asset- based expedited and dedicated truckload capacity, as well as asset-light warehousing, transportation management, and freight brokerage capability. In addition, Transport Enterprise Leasing is an affiliated company providing revenue equipment sales and leasing services to the trucking industry. Covenant's Class A common stock is traded on the New York Stock Exchange under the symbol, 鈥淐VLG.鈥�
For further information contact:
Paul Bunn, President
Tripp Grant, Chief Financial Officer
For copies of Company information contact:
Brooke McKenzie, Executive Administrative Assistant
FAQ
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