Forward Air Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

Shareholders' Equity

9 Months Ended

Sep. 30, 2018

Stockholders' Equity Note [Abstract]

During each quarter of 2017 and through the third quarter of 2018, our Board of Directors declared a cash dividend of $0.15 per share of common stock. The Company expects to continue to pay regular quarterly cash dividends, though each subsequent quarterly dividend is subject to review and approval by the Board of Directors.

On July 21, 2016, our Board of Directors approved a stock repurchase authorization for up to three million shares of the Company’s common stock. The following table summarizes our share repurchases for the three and nine months ended September 30, 2018 and 2017.



	Three months ended				Nine months ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
Shares repurchased	267,451		579,769		764,617		826,633
Cost of shares repurchased	$	16,820	$	29,988	$	44,985	$	41,983
Average cost per share	$	62.89	$	51.72	$	58.83	$	50.79

As of September 30, 2018, 1,054,048 shares were available to be purchased under the 2016 Plan.