The Atlanta-based company said late Thursday that it will pay a dividend of 67 cents per share March 11 to shareholders of record as of Feb. 24. That’s up from its most recent dividend of 62 cents per share.
U.S. prosecutors on Thursday charged the son of a former United Parcel Service Inc executive with impersonating his father to fraudulently obtain millions of dollars that was intended to finance the purchase of Maxim magazine last year.
Calvin Darden Jr., 39, faces two counts of wire fraud for his role in an elaborate scheme involving fake emails and bank statements to obtain more than $8 million and attempt to secure another $20 million, the prosecutors said.
Darden was arrested Wednesday after what a prosecutor described as a manhunt. He is the son of Calvin Darden Sr., a former vice president of U.S. operations at UPS.
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.”
Love is in the air and on the ground as UPS® (NYSE: UPS) prepares to transport an estimated 118 million flowers for Valentine’s Day. Most of the flowers imported for Cupid’s holiday come from Latin American countries such as Colombia and Ecuador. More than 90 percent of the imported blossoms travel through Miami International Airport, where UPS is the largest air cargo carrier.
According to the National Retail Federation, the average consumer is expected to spend $133.91 on Valentine’s Day gifts with total spending expected to hit more than $17 billion. One-third of this year’s gift-givers will purchase flowers, and UPS will be kicking it into high gear for the celebration, which marks one of UPS’s busiest single delivery days of the year