United Parcel Service Raises Dividend by 6.6%; Sets New $5 Billion Buyback
31 Januar 2023 - 12:49PM
Dow Jones News
By Colin Kellaher
United Parcel Service Inc. on Tuesday said its board raised the
quarterly dividend by 6.6%, to $1.62 from $1.52, and approved a new
$5 billion stock-buyback program.
The new quarterly payout, equal to $6.48 a year, represents an
annual yield of about 3.66% based on Monday's closing price of
$176.97, up from 3.44%.
The Atlanta package-delivery giant said the increased dividend
is payable March 10 to shareholders of record Feb. 21.
UPS, which has nearly 730 million shares outstanding and sports
a market capitalization of roughly $157.5 billion, said the new $5
billion repurchase replaces its prior authorization, adding that it
expects to buy back about $3 billion in stock this year in addition
to shelling out around $5.4 billion in dividend payments.
UPS returned $8.6 billion of cash to shareholders through
dividends and stock buybacks in 2022.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 31, 2023 06:34 ET (11:34 GMT)
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