UPS United Parcel Service

By Maria Armental 

United Parcel Service raised its quarterly dividend 9% to 73 cents a share, citing the company's solid cash position.

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.

Shares closed Wednesday at $100.91, up nearly 5% over the past 12 months.

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