January 29, 2010 (FinancialWire) — The board of directors of Arkansas Best Corp. (NASDAQ: ABFS) has declared a quarterly cash dividend of three cents per share to holders of record of its common stock, $0.01 par value, on February 9, 2010, payable on February 23, 2010. The move represents a decrease from the company’s previous fifteen cents per share quarterly cash dividend amount.

Judy R. McReynolds, Arkansas Best president and chief executive officer, said, “We are reducing the amount of our quarterly dividend in response to a freight recession that is one of the longest and deepest in our industry’s history.”

She said that the move is, “one of several steps we have taken recently to preserve our capital resources in order to respond to an uncertain time. We believe this dividend reduction is a responsible course of action and in the best interest of our company and our shareholders.”

Arkansas-based Arkansas Best is a transportation holding company. ABF Freight System, Inc., Arkansas Best’s largest subsidiary, has been in continuous service since 1923. ABF provides transportation of less-than-truckload (“LTL”) general commodities throughout North America

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