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FedEx raises dividend by 60%
FedEx raised its quarterly dividend by 60%, from 25 cents a share to 40 cents a share. The increase follows a growth in profits that exceeded industry expectations, and is an improvement on FedEx’s last increases, which were 33% and 25% in June 2014 and 2015 respectively.
The growth is attributed to booming e-commerce, which has meant more deliveries, and to FedEx’s focus on its ground division, which is largely responsible for its online business. FedEx also just acquired TNT Express, which means the addition of a huge ground network in Europe as well as the US.
Shareholders who own stock by June 16th will be paid dividends on July 1st.
FedEx aims to continue this increase over the next two years.
(Source: Wall Street Journal)