J.B. Hunt Transport Services (JBHT) will raise its quarterly dividend by 3.7 percent to 28 cents per share in 2021. This comes after a 3.8 percent hike to $0.27 per share announced in 2020. This will also mark the 18th consecutive year of dividend increases for the freight-trucking company.

The next dividend will be paid on February 19, 2021 to shareholders of record on February 5, 2021. A new annualized dividend rate of $1.12 per share yields 0.8% at a stock price of $146.

J.B. Hunt Transport Services will now pay its shareholders an estimated $118 million in dividends. The dividend growth is 4.9% annually based on the last five years if we include this 2021 dividend hike just announced. The company last announced a double digit dividend hike in 2014 with a 33.3 percent increase.

J.B. Hunt Transport Services, Inc. provides supply chain solutions for customers throughout the continental United States, Canada, and Mexico. The company's service offerings include transportation of full truckload containerizable freight, which is directly transported utilizing J.B. Hunt's company-controlled revenue equipment and company drivers or independent contractors. The company also has arrangements with most of the major North American rail carriers to transport truckload freight in containers and trailers. J.B. Hunt was incorporated in Arkansas on August 10, 1961, and has been a publicly held company since its initial public offering in 1983.