Knight-Swift Transportation Raises Quarterly Dividend 11% to $0.20
Knight-Swift Transportation Holdings Inc., one of North America's largest truckload carriers, increased its quarterly cash dividend to $0.20 per share from $0.18, marking an 11% rise. The dividend was paid March 23, 2026.
Knight-Swift Transportation Holdings Inc. (NYSE: KNX), one of North America's largest truckload carriers, raised its quarterly cash dividend 11% to $0.20 per share from the previous $0.18, the company's board of directors declared on February 11, 2026. The dividend was paid to shareholders of record as of March 6, 2026, and was distributed on March 23, 2026. Read more dividend announcements.
The Phoenix-based trucking company operates approximately 15,100 irregular route tractors and nearly 5,900 dedicated tractors across multiple brands, including irregular route, dedicated, refrigerated, expedited, flatbed, and cross-border truckload operations.
| Dividend Details | Information |
|---|---|
| Dividend Amount | $0.20 per share |
| Previous Amount | $0.18 per share |
| Record Date | March 6, 2026 |
| Payment Date | March 23, 2026 |
| Frequency | Quarterly |
First Quarter Operating Results
The dividend increase came as Knight-Swift reported first quarter 2026 results showing mixed performance. The company's Truckload segment generated revenue of $1.05 billion, excluding fuel surcharge and intersegment transactions, essentially flat compared to $1.05 billion in the first quarter of 2025.
Operating income in the Truckload segment declined 16.9% to $37.1 million from $44.6 million in the year-ago period. The segment's operating ratio deteriorated 60 basis points to 96.9% from 96.3%.
Adjusted operating income for the segment fell 16.4% to $38.9 million from $46.5 million, while the adjusted operating ratio widened 70 basis points to 96.3% from 95.6%.
The company recorded $1.2 million of expense within other expense income in the first quarter, compared to $11.0 million of income in the same period last year. The net expense resulted from $5.2 million in write-downs of investments.
Knight-Swift's effective tax rate on GAAP results was 7.0% for the first quarter of 2026, down from 25.4% in the prior-year quarter. The effective tax rate on non-GAAP results was 28.0%, up from 25.4%.
The company said its Truckload segment experienced rapidly evolving market conditions in the first quarter as freight market tightness became more evident. After disruptive winter weather early in the quarter, most operating fundamentals improved progressively, including total miles, utilization, tender rejection rates, and revenue per mile excluding fuel surcharge. However, a spike in fuel prices during March reduced the earnings contribution from stronger mileage.