UPS Board Boosts Dividend by 11% to $0.52 Per Share
Directors Cite Strong Earnings Outlook
ATLANTA--(BUSINESS WIRE)-- The UPS (NYSE:UPS) Board of Directors today increased the regular quarterly dividend by 11% to $0.52 per share from $0.47 on all outstanding Class A and Class B shares. The dividend is payable March 2, 2011, to shareholders of record on Feb. 14, 2011.
"We believe that 2011 is going to be a great year for UPS and we're committed to significantly increasing distributions to shareowners," said UPS Chairman and CEO Scott Davis. "Cash flow is expected to be strong and clearly today's decision by the Board reflects that projection."
Earlier this week, in releasing its 4th quarter earnings results, UPS said it expected to generate record earnings per share in 2011.
UPS's dividend has more than tripled since 2000, when it stood at $0.17 per share. The company has either increased or maintained its dividend every year for four decades.
UPS (NYSE:UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.
Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, our competitive environment, increased security requirements, strikes, work stoppages and slowdowns, changes in energy prices, governmental regulations and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.
Released February 3, 2011