P.A.M. Transportation Services, Inc. Retires Treasury Shares, Announces Stock Split

About this update from Pamt Corp

[{"type":"text","content":"TONTITOWN, AR / ACCESSWIRE / March 8, 2022 / P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) today announced that the Company's Board of Directors approved a resolution to retire the Company's current treasury share holdings and declared a 2-for-1 forward stock split of its common stock. The Company currently holds approximately 12.3 million treasury shares that will be retired immediately. The stock split will be in the form of a 100% stock dividend and is payable on March 29, 2022, to stockholders of record on March 18, 2022. Under the terms of the stock split, the Company's stockholders will receive a dividend of one share for every share held on the record date. The dividend will be paid in authorized but unissued shares of common stock of the Company. The additional shares will be distributed by the Company's transfer agent, Computershare, and the per share price of the Company's common stock will adjust accordingly on The Nasdaq Stock Market. The Company expects trading will begin on a split-adjusted basis on March 30, 2022. The Company currently has approximately 11.1 million shares of common stock outstanding. After the stock split, the number of shares of common stock outstanding will increase to approximately 22.2 million shares.Joe Vitiritto, President of the Company, commented, \"We are pleased that the Board of Directors has approved a second stock split in less than a year, which demonstrates their confidence in our long-term potential. With this split, we will be able to further increase the availability of our stock and enhance our liquidity within the marketplace.\"About P.A.M. Transportation Services, Inc.P.A.M. Transportation Services, Inc. is a leading truckload dry van carrier transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company also provides transportation services in Mexico through its gateways in Laredo and El Paso, Texas under agreements with Mexican carriers.Forward-Looking StatementsCertain information included in this document contains or may contain \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to expected future financial and operating results, prospects, plans or events, and are thus prospective. Such...

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