UPS Hikes Quarterly Dividend by 8.1%
14 February 2014 - 10:10AM
Dow Jones News
United Parcel Service Inc. boosted its dividend by 8.1%, the
third consecutive year the delivery company has increased the
quarterly payout by five cents a share.
The new payout will amount to $2.68 a share a year and will cost
the company an additional $186 million annually. The company raises
the payout on a fairly consistent yearly basis, last declining to
do so in 2009. UPS said since 2000, the dividend has more than
tripled.
The news of the higher dividend comes after UPS last month
issued disappointing fourth-quarter results that were hurt badly by
holiday delivery problems. UPS outlined efforts to prevent another
Christmas debacle, including plans to invest in expanding some of
its hubs to handle more packages.
Shares were down 0.5% to $96.07 in after-hours trading.
Write to John Kell at john.kell@wsj.com
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