Atlanta, February 03, 2011
Directors Cite Strong Earnings Outlook
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.