Expeditors International of Washington, 05/14/97div

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Expeditors International of Washington, 05/14/97div

  1. 1. PRESS RELEASE By: Expeditors International of Washington, Inc. 999 Third Avenue, Suite 2500 Seattle, Washington 98104 CONTACT: R. Jordan Gates Chief Financial Officer (206) 674-3427 On the Internet: http://www.expd.com FOR IMMEDIATE RELEASE EXPEDITORS INCREASES CASH DIVIDEND 25% SEATTLE, WASHINGTON, May 14, 1997, Expeditors International of Washington, Inc. (NASDAQ: EXPD), today announced that its Board of Directors declared a semi-annual cash dividend of $.05 per share, which represents an increase of 25% percent as compared with the prior year’s dividend. This cash dividend will be payable on June 16, 1997 to shareholders of record as of June 2, 1997. For the three-months ended March 31, 1997, net earnings increased 48% to $5,598,000 compared to 3,789,000 for the first quarter of 1996 and net earnings per share increased 47% to $.22 compared to $.15 for the same period in 1996. For the year ended December 31, 1996, total revenues and net earnings were $730,088,000 and $24,263,000, respectively. Expeditors is a global logistics company. Headquartered in Seattle, Washington, the company employs trained professionals in 133 offices and international service centers located in six continents linked into a seamless worldwide network through an integrated information management system. Services include air and ocean freight forwarding, vendor consolidation , customs clearance, marine insurance, distribution and other value added international logistics services.

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