Covenant Logistics (NYSE: CVLG) declares $0.07 quarterly dividend
Rhea-AI Filing Summary
Covenant Logistics Group, Inc. reported leadership and dividend updates. On August 11, 2025, Matisse Long resigned as Chief Accounting Officer, effective immediately. On August 12, 2025, the Board designated Executive Vice President and Chief Financial Officer James “Tripp” S. Grant as the company’s principal accounting officer, while he continues as principal financial officer, with no changes to his compensation arrangements.
The Board also declared a quarterly cash dividend of $0.07 per share on Class A and Class B common stock, under its existing dividend program. The dividend is payable to stockholders of record on September 5, 2025 and is expected to be paid on September 26, 2025. The company cautions that future dividends are not assured and will depend on factors such as cash flow, legal and financing restrictions, tax laws, and overall financial condition.
Positive
- None.
Negative
- None.
8-K Event Classification
|
|
|
|
|
(State or other jurisdiction
of incorporation)
|
(Commission
File Number)
|
(IRS Employer
Identification No.)
|
|
|
|
|
(Address of principal executive offices)
|
(Zip Code)
|
|
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
||||
|
|
|
||||
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
||||
|
|
|
||||
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
||||
|
|
|
||||
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
||||
|
Securities registered pursuant to Section 12(b) of the Act:
|
|||||
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
|
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
|
|
|
Emerging growth company
|
|
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
|
|
|
Item 5.02
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
|
|
|
On August 11, 2025, Matisse Long resigned as the Chief Accounting Officer of Covenant Logistics Group, Inc., a Nevada corporation (the “Company”),
effective immediately.
|
||
|
On August 12, 2025, the Board of Directors (the “Board”) of the Company designated James “Tripp” S. Grant, the Company’s Executive Vice President and
Chief Financial Officer, as the Company’s principal accounting officer, effective immediately. Mr. Grant will continue to serve as the Company’s
principal financial officer.
The biography for Mr. Grant is contained in the Company’s definitive proxy statement, filed with the U.S. Securities and Exchange Commission on April
11, 2025. There were no modifications to the Company’s compensation arrangements with Mr. Grant in connection with his designation as the Company’s principal
accounting officer.
|
||
|
Item 8.01
|
Other Events.
|
|
|
On August 12, 2025, the Board declared a quarterly cash dividend of $0.07 per share of Class A and Class B common stock. The quarterly cash dividend
is pursuant to a quarterly cash dividend program previously approved by the Board. The dividend is payable to stockholders of record on September 5, 2025, and is expected to be paid on September 26, 2025.
A copy of the press release announcing the declaration of dividends is attached to this report as Exhibit 99.1.
|
||
|
Item 9.01
|
Financial Statements and Exhibits.
|
|
|
(d)
|
Exhibits.
|
|
|
EXHIBIT
NUMBER
|
EXHIBIT DESCRIPTION
|
|
|
99.1
|
Covenant Logistics Group, Inc. press release dated August 15, 2025, announcing the declaration of a quarterly cash dividend.
|
|
|
104
|
Cover Page Interactive Data File.
|
|
|
The information Items 8.01 and 9.01 of this report and the exhibit hereto maybe considered forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995,
as amended. All statements, other than statements of historical or current fact, are statements that could be deemed forward-looking statements, including, without limitation, statements relating to our declaration of quarterly dividends.
Forward-looking statements are based on the current beliefs, assumptions, and expectations of management and current market conditions. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be
predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. There can be no assurance that future dividends will be
declared. The declaration of future dividends is subject to approval of our board of directors and various risks and uncertainties, including, but not limited to: our cash flow and cash needs; compliance with applicable law; restrictions on the
payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; deterioration in our financial condition or results; and those risks, uncertainties, and other factors identified from
time-to-time in our filings with the Securities and Exchange Commission. Please refer to the italicized paragraph at the end of the attached press release and various disclosures by the Company in its press releases, stockholder reports, and
filings with the Securities and Exchange Commission for information concerning risks, uncertainties, and other factors that may affect future results.
|
||
|
COVENANT LOGISTICS GROUP, INC.
|
||
|
(Registrant)
|
||
|
Date: August 15, 2025
|
By:
|
/s/ James S. Grant
|
|
James S. Grant
|
||
|
Executive Vice President and Chief Financial Officer
|
||
FAQ
What leadership changes did Covenant Logistics Group (CVLG) disclose?
Covenant Logistics Group reported that on August 11, 2025, Matisse Long resigned as Chief Accounting Officer. On August 12, 2025, the Board designated James “Tripp” S. Grant, the Executive Vice President and Chief Financial Officer, as the company’s principal accounting officer, and he will continue to serve as principal financial officer.
Did Covenant Logistics change James Grant’s compensation with his new designation?
No. The company explicitly states there were no modifications to its compensation arrangements with James “Tripp” S. Grant in connection with his designation as principal accounting officer.
What dividend did Covenant Logistics (CVLG) declare in this 8-K?
The Board declared a quarterly cash dividend of $0.07 per share on both Class A and Class B common stock, under a previously approved quarterly dividend program.
What are the key dates for Covenant Logistics’ declared dividend?
The quarterly cash dividend of $0.07 per share is payable to stockholders of record on September 5, 2025 and is expected to be paid on September 26, 2025.
Is Covenant Logistics guaranteeing future quarterly dividends?
No. The company notes there can be no assurance that future dividends will be declared. Future dividends remain subject to Board approval and factors such as cash flow and cash needs, legal and financing restrictions, tax law changes, and the company’s financial condition and results.
Where can investors find more details about James Grant’s background at Covenant Logistics?
The company states that James “Tripp” S. Grant’s biography is contained in its definitive proxy statement filed with the SEC on April 11, 2025.
