Schneider National approves up to $150M stock repurchase program

Schneider announced that on January 30, 2023, its Board of Directors declared a quarterly cash dividend of 9c per share on its Class A and Class B common stock, payable to shareholders of record as of March 10, 2023. The dividend is expected to be paid on April 10, 2023. On January 31, 2023, its Board of Directors approved a new stock repurchase program under which up to $150M of the company’s outstanding Class A common stock, no par value, and/or Class B common stock, no par value, may be acquired over the next three years. The Share Repurchase Program is a complementary component of the company’s capital allocation framework and will primarily serve to offset the dilutive effect of equity grants to employees over time. Stock repurchases under the Share Repurchase Program may be made from time to time, at the discretion of management, through open market repurchases effected through a broker at prevailing market prices, or through privately negotiated transactions, based on a variety of factors including our liquidity and capital position, current market conditions, and the future economic and earnings outlook.