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Benzinga

Akanksha Bakshi

Old Dominion Freight Line Plans General Rate Increase Of 4.9%

Old Dominion Freight Line Inc (NASDAQ:ODFL) announced a general rate increase (GRI) of 4.9% applicable to rates established under the existing ODFL 559, 670, and 550 tariffs, effective January 3, 2022.
The company expects the rate increase to partially offset the rising costs of real estate, new equipment, technology investments, and competitive employee wage and benefit packages.
The rate increase also provides a nominal rise in minimum charges for intrastate, interstate, and cross-border lanes.
Price Action: ODFL shares are trading lower by 0.25% at $352.69 on the last check Thursday.

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