Benzinga | Dec 16, 2021 02:10PM EST

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.