By 
Logistics and e-commerce firm FedEx Corp. has hiked its quarterly cash dividend by over 50% in a bid to boost long-term value for stockholders.
Source: FedEx
FDX is up 9.91%, and CHRW is up 3.69% premarket.
FedEx announced a quarterly cash dividend of $1.15 per share on its common stock, reflecting a $0.40 per share or 53% increase from the previous quarterly dividend of $0.75.
The latest quarterly dividend will be made to stockholders on record as of the close of business on June 27, 2022, and will be payable to stockholders on July 11, 2022.
The company also announced the inclusion of an additional performance metric in its cash-based long-term incentive program, along with capital expenditures as a percentage of revenue performance metric.
FedEx also reported the addition of two independent directors — Amy Lane and Jim Vena — effectively immediately. A third independent director is also expected to be added at a later date.
FedEx Executive Vice President and Chief Financial Officer Michael Lenz said the higher dividends reflect the board’s “thoughtful efforts” to increase stockholder returns.
Comments