FedEx Corp. Raises Dividend by 25% to 25¢ Per Share
FedEx Corp. announced a 25% increase in its dividend to 25 cents per share.
The announcement by the Memphis, Tennessee, package delivery company said the payout would be made July 2 to holders of its share as of June 18. FedEx, which ranks No. 2 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers, last raised its dividend in June of last year from 15 cents to 20 cents.
“Increasing our dividend reinforces our commitment to drive value for shareowners,” Chief Financial Officer Alan B. Graf Jr. said. “Our balance sheet and cash flow generation are very strong, allowing us to strategically invest in long-term, profitable growth while also rewarding our shareowners by raising our dividend by 25 percent.”
The announcement was made in advance of FedEx’s scheduled announcement of quarterly earnings June 17. The dividend also was raised every year between 2011 and 2013.
