UPS Boosts Dividend, Sets Reverse Logistics Deal
UPS Inc. said its board approved an 8.8% dividend increase, and separately said it will provide reverse logistics services in an arrangement with Jabil Circuit Inc.
The company said late Thursday its board declared a regular quarterly dividend of 62 cents per share, payable on March 12 to shareholders of record as of Feb. 25.
“During 2012 we generated almost $5.4 billion in free cash flow, enabling reinvestment for growth and greater shareowner distributions, which are a top priority at UPS,” Chairman and CEO Scott Davis said in a statement.
Separately, UPS said its logistics and distribution business unit and Jabil Aftermarket Services will provide reverse logistics services for return and repair programs to high-tech original equipment manufacturers, service providers and enterprises on a global scale.
The collaboration will combine UPS’ warehousing, transportation, returns management and trade compliance capabilities with Jabil’s reverse logistics planning, repair and call-center support.
UPS has 1.8 million pickup and drop-off locations in 147 countries, and St. Petersburg, Fla.-based Jabil Circuit has 55 service centers in 21 countries.
UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
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