By Maria Armental
United Parcel Service raised its quarterly dividend 9% to 73
cents a share, citing the company's solid cash position.
Based on Wednesday's $100.91 closing, the new annual dividend of
$2.92 a share represents a 2.9% yield, compared with the 2% yield
for the S&P 500.
The dividend is payable March 10.
UPS has either increased or maintained its dividend for more
than four decades, company officials said in a statement. The
Atlanta-based company has boosted its dividend by five cents for
the past four years.
Last week, the company issued downbeat projections for 2015
saying the fourth-quarter, once its most lucrative quarter thanks
to holiday shipping, will continue to drag results. The company has
faced rising costs to meet unpredictable surges in volume.
Write to Maria Armental at maria.armental@wsj.com
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