Shares of J.B. Hunt Transport Services Inc. rallied 1.8% in afternoon trading, after the trucking company said it raised its quarterly dividend by 33%, to 40 cents a share from 30 cents. The company said the new dividend will be payable Feb. 18 to shareholders of record on Feb. 4. Based on the current stock price, the new annual dividend rate implies a dividend yield of 0.78%, compared with the implied yield for the S&P 500 of 1.35%. J.B. Hunt’s stock has now rallied 36.2% over the past 12 months, while the Dow Jones Transportation Average has advanced 20.9% and the S&P 500 has gained 189%.
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