The board of directors of Knight Transportation Inc. announced yesterday that it has declared a 3-for-2 stock split, payable as a stock dividend on its issued and outstanding common stock, to shareholders of record as of May 18. The dividend, which will be in the issuance of one share for every two shares issued and outstanding, will be paid June 1.
The company said that the stock dividend was declared in order to provide additional liquidity for the company's shares. Knight stated the fully diluted earnings per share, without adjustment for the stock split, were $0.28 per share for the three-month period ended March 31, compared to $0.26 per share for the same three-month period ended in 2000.
After adjustment for the stock split, Knight stated that fully diluted earnings per share for the three-month period ended March 31 would be $0.18 per share, compared to $0.17 per share for the same three-month period ended in 2000.