Exhibit 99.1
WERNER ENTERPRISES, INC.
14507 Frontier Road
P. O. Box 45308
Omaha, Nebraska 68145
FOR IMMEDIATE RELEASE
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CONTACT: Robert E. Synowicki, Jr.
Executive Vice President and
Chief Information Officer
(402) 894-3000
John J. Steele
Vice President, Treasurer and
Chief Financial Officer
(402) 894-3036
WERNER ENTERPRISES ANNOUNCES 5 FOR 4 SPLIT OF THE COMPANY'S
COMMON STOCK AND DECLARES QUARTERLY DIVIDEND
Omaha, Nebraska, September 2, 2003:
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Werner Enterprises, Inc. (Nasdaq: WERN-news), one of the
nation's largest truckload transportation companies, announced
today that its Board of Directors has declared a five for four
split of the Company's common stock effected in the form of a 25
percent stock dividend. The stock dividend will be payable on or
about September 30, 2003 to stockholders of record at the close
of business on September 16, 2003. Based on the number of
diluted shares at August 31, 2003, the Company's diluted shares
will increase from approximately 65.6 million to approximately
82.0 million. No fractional shares of common stock will be
issued in connection with the stock split. Stockholders entitled
to fractional shares will receive a proportional cash payment
(after giving effect to the stock split) based on the closing
price of a share of common stock on September 16, 2003. If a
stockholder is contemplating a trade of stock from the record
date to the payable date, he or she should consult his or her
stockbroker as to entitlement of the split shares.
The Company's Board of Directors has also declared a regular
quarterly cash dividend of $.025 (2.5 cents) per share (after
giving effect to the stock split) payable to stockholders of
record on October 6, 2003. This dividend will be paid on October
21, 2003. The dividend rate of $.025 results in a slightly
higher dividend than the Company's previous dividend rate of
$.030, after adjusting for the stock split.
Werner Enterprises is currently in its seventeenth year of
paying quarterly cash dividends on its common stock to its
stockholders. The first quarterly cash dividend was paid by the
Company in July 1987.
Werner Enterprises is a full-service transportation company
providing truckload services throughout the 48 states, portions
of Canada and Mexico. C.L. Werner founded the Company in 1956.
Werner is one of the nation's largest truckload carriers with a
fleet of 8,150 trucks and 21,355 trailers as of June 30, 2003.
Werner Enterprises, Inc. common stock is traded on The
Nasdaq Stock Market under the symbol WERN. The Werner
Enterprises web site address is www.werner.com.