MONTREAL - TFI International Inc. (NYSE:TFII) (TSX:TFII), a major player in the North American transportation and logistics industry, has announced a quarterly dividend of $0.40 per outstanding common share. The dividend is scheduled to be paid on October 15, 2024, to shareholders who are on record as of the close of business on September 30, 2024.
TFI International operates within the United States, Canada, and Mexico, managing a network of wholly-owned subsidiaries. The company's scope of services encompasses segments such as Less-Than-Truckload, Truckload, and Logistics. Their strategic approach includes identifying acquisitions and enhancing the operational efficiency of their network to foster shareholder value.
The company is listed on both the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol TFII. This latest dividend declaration is in line with TFI International's practice of providing returns to its shareholders.
The declaration of dividends is a common practice among publicly traded companies, reflecting their financial health and commitment to returning value to shareholders. It is important to note that the dividend payment and the record date are based on the company's announcement.
This announcement is based on a press release statement from TFI International Inc. and provides shareholders and potential investors with relevant information regarding the company's dividend policy. As a factual update, this information is essential for those tracking the company's financial practices and shareholder benefits.
In other recent news, TFI International's second quarter earnings have exceeded expectations, with an operating income of $208 million and an adjusted net income of $146 million. The company's revenue before fuel surcharge reached $1.96 billion, maintaining its full-year earnings guidance. The company's management has demonstrated confidence in their strategic cost management and disciplined approach to handling volumes, including a plan to pay down significant debt in the coming year.
Analysts from BMO Capital Markets, TD Cowen, and RBC Capital Markets have provided varying perspectives on TFI International's performance. BMO Capital Markets maintains a Market Perform rating on TFI International's shares, highlighting the potential for further stock appreciation linked to future mergers and acquisitions, despite current market conditions. TD Cowen, on the other hand, raised its price target for TFI International to $184, emphasizing the company's strong Q2 performance and potential for future acquisitions. Lastly, RBC Capital Markets increased its price target to $171, citing the company's robust free cash flow and strategic initiatives.
Despite facing a challenging freight market, TFI International remains committed to expanding its Less-Than-Truckload and logistics footprint through 2025. These recent developments reflect the company's resilience and strategic adjustments in response to current market conditions.
InvestingPro Insights
TFI International Inc. (NYSE:TFII) has demonstrated a robust track record of delivering shareholder value, as evidenced by their consistent dividend payments over the past 23 years. This consistent distribution aligns with recent data from InvestingPro, which shows a dividend yield of 1.12% as of the latest fiscal year. Additionally, the company's dividend growth over the last twelve months is notable at 14.29%, reflecting a positive trend in shareholder returns.
The company's financial health is further highlighted by a stable P/E ratio of 25.81, suggesting that investors are willing to pay a premium for TFI International's earnings compared to the broader market. Moreover, the company's revenue growth has been steady, with a 2.23% increase over the last twelve months, indicating a solid operational performance.
InvestingPro Tips for TFI International suggest that the stock trades with low price volatility, which could be appealing for investors seeking stability in their portfolio. Furthermore, the company is expected to be profitable this year, as analysts have revised their earnings upwards for the upcoming period, providing a positive outlook for potential investors.
For those interested in a deeper analysis, there are additional InvestingPro Tips available on TFI International, providing a comprehensive overview of the company's financial health and market performance. Visit InvestingPro for more insights: https://www.investing.com/pro/TFII.
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