Patriot Transportation Holding, Inc. Declares Special Dividend of $3.75 per Share

Rhea-AI Summary

Patriot Transportation Holding has declared a special cash dividend of $3.75 per share, totaling approximately $12.8 million. This one-time dividend is scheduled for payment on November 15, 2021, for shareholders of record as of November 8, 2021. Following the dividend distribution, the company's balance sheet will reflect about $6 million in cash and no debt, underscoring its strong financial position.

Positive

• Declared a special cash dividend of $3.75 per share, totaling approximately $12.8 million.
• Post-dividend balance sheet to show $6 million in cash with zero debt.

Negative

• None.

News Market Reaction – PATI

+15.09%

+15.09% Session move

In the trading session that priced this news, PATI gained 15.09%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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JACKSONVILLE, FL / ACCESSWIRE / October 25, 2021 / Patriot Transportation Holding, Inc. (NASDAQ:PATI) Patriot Transportation Holdings, Inc. announced today that its Board of Directors has declared a special cash dividend of $3.75 per share, or approximately $12,809,000 in the aggregate, on the Company's outstanding common stock. This one-time, special dividend is payable on November 15, 2021, to shareholders of record at the close of business on November 8, 2021. Our balance sheet following the payment of the dividend will have approximately $6 million of cash and zero debt.

CONTACT
Matt McNulty
Chief Financial Officer
904-858-9100

SOURCE: Patriot Transportation Holding, Inc.

View source version on accesswire.com:
https://www.accesswire.com/669605/Patriot-Transportation-Holding-Inc-Declares-Special-Dividend-of-375-per-Share

FAQ

What is the special dividend amount for PATI?

Patriot Transportation declared a special cash dividend of $3.75 per share.

When is the special dividend payable for PATI?

The special dividend is payable on November 15, 2021.

What is the record date for the PATI special dividend?

The record date for the dividend is November 8, 2021.

How much cash will PATI have after the dividend payment?

After the dividend payment, Patriot Transportation will have approximately $6 million in cash.

Does PATI have any debt after the dividend?

Following the dividend payment, Patriot Transportation will have zero debt.