UPS Board Sets Dividend; Names China Expert Clark "Sandy" Randt a Director
LOUISVILLE, Ky.--(BUSINESS WIRE)-- The UPS (NYSE:UPS) Board of Directors today named Clark "Sandy" T. Randt Jr., one of America's foremost authorities on China, a company director effective immediately. His elevation to the post expands the UPS Board to 11 members.
The Board also declared a regular quarterly dividend of $0.47 per share on all outstanding Class A and Class B shares. The dividend is payable Sept. 1, 2010, to shareholders of record on Aug. 16, 2010.
UPS's dividend has more than doubled since February 2003. The company has either increased or maintained its dividend every year for more than four decades.
Randt, 64, is a diplomat, attorney and businessman with more than 30 years of direct experience in Asia. He served for more than seven years as America's ambassador to the People's Republic of China under the administration of President George W. Bush and currently is the president of Randt & Co. LLC, which advises firms with interests in China.
A 1968 graduate of Yale with a law degree from the University of Michigan, Randt is a former governor and first vice president of the American Chamber of Commerce in Hong Kong and spent eight years as a partner resident in the Hong Kong office of the law firm Shearman & Sterling.
Randt will serve as an appointed member of the UPS Board until next May, when he is expected to stand for election to a regular one-year term at the annual shareowners' meeting. He has been named to the Nominating and Corporate Governance Committee. Randt also is a member of the Board at Valmont Industries Inc. He and his wife reside in Hong Kong.
UPS (NYSE: UPS) is the world's largest package delivery company and a global leader in supply chain and freight services. With more than a century of experience in transportation and logistics, UPS is a leading global trade expert equipped with a broad portfolio of solutions. Headquartered in Atlanta, Ga., UPS serves more than 200 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at www.blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.
Released August 5, 2010