Old Dominion Freight Line, Inc. ODFL has issued an update on the performance of its less-than-truckload (LTL) segment, the major revenue driver.LTL tons per day dipped 5.2% year over year in February due to 3.7% decrease in LTL shipments per day and a 1.5% slip in LTL weight per shipment. Consequently, revenue per day declined 1% in the month. However, LTL revenue per hundredweight registered an increase.On a quarter-to-date basis, LTL revenue per hundredweight and LTL revenue per hundredweight excluding fuel surcharges rose 4.3% and 4.5%, respectively.Notably, Old Dominion has been hurt by sluggish LTL demand for quite some time. As an evidence, LTL tonnage slid 4.4% in 2019 from 2018-levels. This adversity was due to lower volumes on account of soft freight demand. LTL shipments slipped 2.2% in 2019.In a separate development, the company recently announced a 35.3% hike in quarterly dividend to 23 cents per share (annualized 92 cents). Apart from Old Dominion, other transportation companies having raised their respective dividend payouts this year include Alaska Air Group (ALK), J.B. Hunt Transport JBHT and GATX Corporation GATX.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.Click here for the 6 trades >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report J.B. Hunt Transport Services, Inc. (JBHT): Free Stock Analysis Report Old Dominion Freight Line, Inc. (ODFL): Free Stock Analysis Report Alaska Air Group, Inc. (ALK): Free Stock Analysis Report GATX Corporation (GATX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research