Forward Air Corporation Announces Authorization and Declaration of Quarterly Cash Dividend

  Forward Air Corporation Announces Authorization and Declaration of Quarterly
  Cash Dividend

Business Wire

GREENEVILLE, Tenn. -- April 28, 2014

Forward Air Corporation (NASDAQ:FWRD) today announced that its Board of
Directors declared a quarterly cash dividend of $0.12 per share of common
stock. The dividend is payable to shareholders of record at the close of
business on May 23, 2014 and is expected to be paid on June 6, 2014.

This quarterly dividend is pursuant to a cash dividend policy approved by the
Board of Directors, which anticipates a total annual dividend of $0.48 per
share of common stock, payable in quarterly increments of $0.12 per share of
common stock. The actual declaration of future cash dividends, and the
establishment of record and payment dates, is subject to final determination
by the Board of Directors each quarter after its review of the Company’s
financial performance.

About Forward Air Corporation

Forward Air Corporation operates three business segments, Forward Air, Inc.,
Forward Air Solutions, Inc. and Total Quality, Inc.

Forward Air, Inc. is a leading provider of time-definite surface
transportation and related logistics services to the North American expedited
ground freight market. We offer our customers local pick-up and delivery
(Forward Air Complete™) and scheduled surface transportation of cargo as a
cost-effective, reliable alternative to air transportation. We transport cargo
that must be delivered at a specific time but is relatively less
time-sensitive than traditional air freight or when air transportation is not
economical. We also offer our customers an array of logistics and other
services including: expedited full truckload (“TLX”); intermodal/drayage
(Central States Trucking, Inc.); dedicated fleets; warehousing; customs
brokerage; and shipment consolidation, deconsolidation and handling.

Forward Air Solutions, Inc. is a provider of pool distribution services. Pool
distribution involves the consolidation and shipment of several smaller
less-than-truckload shipments to a common area or region. Once at the regional
destination, the loads are deconsolidated, then grouped with other shipments
with common delivery points, and delivered in a very precise, time-sensitive
manner. Our pool distribution network consists of 24 terminals within the
mid-Atlantic, Southeast, Midwest and Southwestern United States.

Total Quality, Inc. utilizes industry-leading temperature-controlled
equipment, 24-hour monitoring and tracking technology and layered security
features to provide our customers with the highest level of service. In
addition to our core pharmaceutical services, we provide brokerage
transportation services. Headquartered in central Michigan, we service the
United States, Canada and Mexico.

Important Information

This press release contains “forward-looking statements,” as defined in
Section27A of the Securities Act of 1933, as amended, and Section21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements are
statements other than historical information or statements of current
condition and relate to future events or our future financial performance.
Some forward-looking statements may be identified by use of such terms as
“believes,” “anticipates,” “intends,” “plans,” “estimates,” “projects” or
“expects.” Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. The following is a list of factors, among others, that could cause
actual results to differ materially from those contemplated by the
forward-looking statements: economic factors such as recessions, inflation,
higher interest rates and downturns in customer business cycles, our inability
to maintain our historical growth rate because of a decreased volume of
freight moving through our network or decreased average revenue per pound of
freight moving through our network, increasing competition and pricing
pressure, surplus inventories, loss of a major customer, the creditworthiness
of our customers and their ability to pay for services rendered, our ability
to secure terminal facilities in desirable locations at reasonable rates, the
inability of our information systems to handle an increased volume of freight
moving through our network, changes in fuel prices, claims for property
damage, personal injuries or workers’ compensation, employment matters
including rising health care costs, enforcement of and changes in governmental
regulations, environmental and tax matters, the handling of hazardous
materials, the availability and compensation of qualified independent
owner-operators and freight handlers needed to serve our transportation needs
and our inability to successfully integrate acquisitions. As a result of the
foregoing, no assurance can be given as to future financial condition, cash
flows or results of operations. We undertake no obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.

Contact:

Forward Air Corporation
Rodney L. Bell, 423-636-7000
rbell@forwardair.com
 
Press spacebar to pause and continue. Press esc to stop.