
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, January 11, 1994                   TAG: 9401110076
SECTION: BUSINESS                    PAGE: B-5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

CAROLINA FREIGHT STOPS DIVIDEND PAYMENT

Carolina Freight Corp., Cherryville, N.C., parent of Carolina Freight Carriers Corp. in Roanoke, on Monday suspended payment of dividends on its common stock, saying it expects last year's fourth-quarter loss to be larger than anticipated. The expected results are, however, better than those reported in the fourth quarter of 1992, the company said.

The loss was due to lower-than-expected prices and higher labor costs, Carolina Freight said.

Larry R. Scott, vice chairman and chief executive officer, said, Carolina Freight Carriers and G.I. Trucking, its less-than-truckload subsidiaries, have implemented a new loading plan that will eliminate substantial amounts of freight handling, a computerized dock/yard control system and a general rate increase of 4.7 poercent on Jan. 3.

- staff report

by CNB