FedEx Renaming Kinko’s as FedEx Office

FedEx Corp. said late Monday it will change the name of its office and business services unit, FedEx Kinko’s, to FedEx Office.

The company in May named Brian Phillips as the unit’s chief executive officer, a post he had been acting in since the resignation of Ken May in March.

FedEx also said it will record a charge of about $891 million, or $2.22 per share, for its fiscal fourth quarter, which ended Saturday. It will announce its fourth-quarter results on June 18.

This charge relates predominately to one-time, non-cash impairment charges associated with the decision about the use of the Kinko’s trade name and goodwill resulting from the Kinko’s acquisition.

FedEx also said its board increased its quarterly cash dividend to 11 cents per share, up 10% from the 10 cents in its previous dividend. It will be payable July 1 to stockholders of record as of close of business June 13.

FedEx Corp. is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.