UPS, J.B. Hunt Boost Dividends

UPS Inc. and J.B. Hunt Transport Services each announced they would increase their upcoming dividend payments.

UPS said its board increased its regular quarterly dividend, to 45 cents a share, from 42 cents, payable March 4 to shareholders of record as of Feb. 11.

UPS said its dividend has more than doubled since February 2003.

Separately, truckload carrier J.B. Hunt Transport Services said its board approved an increase in its dividend on common stock to 10 cents a share, from 9 cents, effective Feb. 21 for stockholders of record as of Feb. 7.

UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers. J.B. Hunt is ranked No. 9.