EXHIBIT 99.1
WERNER ENTERPRISES, INC.
14507 Frontier Road
P. O. Box 45308
Omaha, Nebraska 68145
FOR IMMEDIATE RELEASE
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CONTACTS: John J. Steele
Executive Vice President, Treasurer and
Chief Financial Officer
(402) 894-3036
Robert E. Synowicki, Jr.
Executive Vice President and
Chief Information Officer
(402) 894-3350
WERNER ENTERPRISES ANNOUNCES QUARTERLY
AND SPECIAL DIVIDENDS
Omaha, Nebraska, November 9, 2010:
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Werner Enterprises, Inc. (NASDAQ: WERN), one of the nation's
largest transportation and logistics companies, announced today that
its Board of Directors declared a regular quarterly cash dividend of
$.050 (5.0 cents) per common share payable to stockholders of record at
the close of business on January 10, 2011. This dividend will be paid
on January 25, 2011.
Werner Enterprises is currently in its twenty-fourth year of
paying quarterly cash dividends on its common stock to its
stockholders. The first quarterly cash dividend was paid by Werner
Enterprises in July 1987.
Werner also announced that its Board of Directors declared a
special cash dividend of $1.60 per common share payable to stockholders
of record at the close of business on November 22, 2010. This dividend
will be paid on December 7, 2010. As a result of the special dividend,
a total of approximately $116 million will be paid on Werner's 72.6
million common shares outstanding. Werner also paid special cash
dividends of $1.25 per common share in December 2009 and $2.10 per
common share in December 2008.
This is the third consecutive year that Werner will pay a special
dividend to shareholders as a way to further enhance shareholder
return. It is Werner's intention to continue to expand its profits in
the future by keeping its fleet count flat for the near term and
increasing its operating margin percentage with improved rates, high
utilization and a lean cost structure. Werner also intends to
accelerate growth of its non-asset-based logistics services of
brokerage, freight management, intermodal and global freight forwarding
to create a planned balanced portfolio of revenues comprised of one-way
truckload, dedicated and logistics.
Werner Enterprises, Inc. was founded in 1956 and is a premier
transportation and logistics company, with coverage throughout North
America, Asia, Europe, South America, Africa and Australia. Werner
maintains its global headquarters in Omaha, Nebraska and maintains
offices in the United States, Canada, Mexico, China and Australia.
Werner is among the five largest truckload carriers in the United
States, with a diversified portfolio of transportation services that
includes dedicated, medium-to-long-haul, regional and local van
capacity, expedited, temperature-controlled and flatbed services.
Werner's Value Added Services portfolio includes freight management,
truck brokerage, intermodal, load/mode and network optimization and
freight forwarding. Werner, through its subsidiary companies, is a
licensed U.S. NVOCC, U.S. Customs Broker, Class A Freight Forwarder in
China, licensed China NVOCC, TSA-approved Indirect Air Carrier and IATA
Accredited Cargo Agent.
Werner Enterprises, Inc.'s common stock trades on the NASDAQ
Global Select MarketSM under the symbol "WERN". For further
information about Werner, visit the company's website at
www.werner.com.
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended, and
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. Such forward-looking
statements are based on information presently available to Werner's
management and are current only as of the date made. Actual results
could also differ materially from those anticipated as a result of a
number of factors, including, but not limited to, those discussed in
Werner's Annual Report on Form 10-K for the year ended December 31,
2009. For those reasons, undue reliance should not be placed on any
forward-looking statement. Werner assumes no duty or obligation to
update or revise any forward-looking statement, although it may do so
from time to time as management believes is warranted or as may be
required by applicable securities law. Any such updates or revisions
may be made by filing reports with the U.S. Securities and Exchange
Commission, through the issuance of press releases or by other methods
of public disclosure.