The UPS (NYSE: UPS) Board of Directors today declared a regular quarterly dividend of $0.78 per share on all outstanding Class A and Class B shares. The dividend is payable June 1, 2016, to shareowners of record on May 16, 2016. Earlier this year, the UPS Board increased the regular quarterly dividend to the current level of $0.78 per share. The company has either increased or maintained its cash dividend every year for 47 years. The Board of Directors also reauthorized the company’s existing share repurchase program in the amount of $8 billion. The new share repurchase authorization has no expiration date and replaces the one approved in 2013.