Landstar Cheers Investors With Special One-time Cash Dividend

Group 1: Special Dividend Announcement - Landstar System, Inc. (LSTR) announced a special one-time cash dividend of $2.00 per share, payable on Jan. 21, 2025, to shareholders of record as of Jan. 7 [1] - The company's president and CEO, Frank Lonegro, highlighted that Landstar's strong balance sheet and free cash flow generation support the return of value to stockholders [1] - Landstar has paid a total of $120.5 million in cash dividends to its shareholders [1] Group 2: Financial Position and Shareholder Initiatives - As of Sept. 28, 2024, LSTR had $531 million in cash and short-term investments, with plans to use free cash flow for stock purchases [2] - In 2023, LSTR rewarded shareholders with dividends totaling $117.1 million and share repurchases worth $53.9 million [2] - The management's decision to announce a special dividend reflects a commitment to boosting shareholder value and confidence in the business [4] Group 3: Stock Performance and Market Context - LSTR shares have gained 2.9% over the past six months, underperforming the industry's growth of 17.5% [6] - Dividend-paying stocks like LSTR are considered safe bets for wealth creation, providing a solid income stream and acting as a hedge against economic uncertainty [3]