UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report
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| Item 8.01 | Other Events. |
On December 9, 2019, the Board of Directors (the “Board”) of Landstar System, Inc. (the “Company”) authorized the Company to purchase up to 1,849,068 additional shares of its common stock, par value $0.01 per share (the “Common Stock”), from time to time in the open market and in privately negotiated transactions under its share purchase program. No specific expiration date has been assigned to the December 9, 2019 authorization. The December 9, 2019 authorization is in addition to the existing authorizations to purchase shares of Common Stock under the Company’s share purchase program. In the aggregate, as of December 9, 2019, the Company has authorization to purchase up to 3,000,000 shares of its Common Stock under its share purchase program.
Also on December 9, 2019, the Board declared a special cash dividend of $2.00 per share to holders of Common Stock. The dividend will be paid on or about January 24, 2020, to stockholders of record as of the close of business on January 10, 2020.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LANDSTAR SYSTEM, INC. | ||||||
| Date: December 10, 2019 |
By: |
/s/ L. Kevin Stout | ||||
| Name: |
L. Kevin Stout | |||||
| Title: |
Vice President and Chief Financial Officer | |||||