M&A
confidence high
sentiment neutral
materiality 0.55
Covenant Logistics acquires brokerage with ~$10M revenue; declares $0.11 dividend
COVENANT LOGISTICS GROUP, INC.
- Acquired 100% equity of a specialized brokerage company on Aug 18, 2023; 2022 revenue was ~$10M.
- Total purchase price $8M to $20M depending on earnouts through 2027.
- Declared quarterly cash dividend of $0.11 per share (unchanged); payable Sep 29, record Sep 1.
- Dividend press release furnished as Exhibit 99.1; no financial statements for acquisition filed.