NEWS RELEASE:
From: Heartland Express, Inc.
2777 Heartland Drive
Coralville , Iowa 52241
NASDAQ Symbol: HTLD
Release Date: April 20, 2006 – FOR IMMEDIATE RELEASE
Heartland Express, Inc. Announces Stock Split
CORALVILLE, IA – April 20, 2006 – Heartland Express, Inc (Nasdaq: HTLD) today announced that it has declared a 4 for 3 stock split, payable as a 33% stock dividend on its issued and outstanding common stock, at the close of business on May 15, 2006. The stock dividend will increase the Company’s issued and outstanding commons shares to approximately 98.4 million from approximately 73.8 million shares.
The stock dividend will be paid on May 15, 2006. The stock dividend will result in the issuance of approximately 0.33 shares for each share issued and outstanding held by shareholders of record as of May 5, 2006. Fractional shares will be paid in cash.
The Company’s quarterly cash dividend will continue to be paid at the current quarterly rate of $0.02 per share. Accordingly, cash dividends will increase approximately $2.0 million per year, a 33% increase.
Heartland Express said that the stock dividend was declared in order to provide additional liquidity for the Company’s shareholders. This is the Company’s ninth stock split since going public in 1986.
For further information contact:
John P. Cosaert
Vice-President and Chief Financial Office
Mike Gerdin
Vice President of Regional Operations
(319) 545-2728