The UPS (NYSE: UPS) Board of Directors today declared a regular quarterly dividend of $0.67 per share, up $0.05 or 8.1%, from $0.62 per share, on all outstanding Class A and Class B shares. The dividend increase is in recognition of the company's solid cash flow performance and commitment to delivering shareowner value.
The dividend is payable March 11, 2014, to shareowners of record on February 24, 2014.
"During 2013, UPS generated $5.3 billion in free cash flow, enabling reinvestment for growth," said Scott Davis, UPS chairman and CEO. "In addition, we increased our shareholder distributions, paying dividends of $2.3 billion and repurchased more than $3.8 billion in UPS shares. This latest dividend increase shows that the UPS business model consistently generates improved returns to shareowners."
UPS has a long history of its commitment to cash dividends. For more than four decades it has either increased or maintained its dividend. Since 2000, its dividend has more than tripled.
UPS routinely posts investor announcements on its web site - www.investors.ups.com - and encourages those interested in the company to check there frequently.
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Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, our competitive environment, increased security requirements, negotiation and ratification of labor contracts, strikes, work stoppages and slowdowns, changes in energy prices, governmental regulations and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.