Landstar System, Inc. (LSTR) will raise its dividend by 19 percent to 25 cents per share in 2021. This comes after a dividend hike of 13.5 percent to 21 cents per share quarterly announced in 2020. The logistics company also paid a $2.00 per share special dividend in 2020 and has now increased its dividend for 16 consecutive years.

The next dividend is payable on August 27, 2021, to stockholders of record as of the close of business on August 9, 2021. The regular annual dividend rate of $1.00 per share yields 0.7% at a stock price of $152.

Landstar System, Inc. is an asset-light provider of integrated transportation management solutions. The company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise-wide solutions to manage all of a customer’s transportation needs. Landstar provides services principally throughout the United States and to a lesser extent in Canada and Mexico, and between the United States and Canada, Mexico and other countries around the world. Landstar markets its integrated transportation management solutions primarily through independent commission sales agents and exclusively utilizes third party capacity providers to transport customers’ freight. Landstar System, Inc. was incorporated in January 1991 and is headquartered in Jacksonville, Florida. The company has paid a dividend to shareholders every year since 2005.