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UPS Boosts Dividend, Raises Buyback Authorization
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UPS Inc. said late Thursday it increased its quarterly dividend to 42 cents a share, from 38 cents.
The dividend will be payable March 6 to shareholders of record on Feb. 20. In raising the dividend, UPS was “citing its confidence in the company’s financial position,” it said in a statement.UPS has increased its dividend five times in the past four years, doubling the quarterly payout from the 21 cents per-share it declared in February 2003. The company’s board also voted to increase to $2 billion its authorization for the repurchase of Class A and Class B shares of stock.UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
