UPS Announces Quarterly Dividend and $5 Billion Share Repurchase Program
August 05 2021 - 5:50PM
UPS (NYSE: UPS) today announced its regular quarterly dividend of
$1.02 per share on all outstanding Class A and Class B shares.
The dividend is payable September 9, 2021 to shareowners of
record on August 23, 2021.
In addition, the Company announced that its Board of Directors
has approved a new share repurchase program of $5.0 billion,
replacing its existing $2.1 billion authorization.
Carol Tomé, UPS chief executive officer, commented, “Commitment
to the dividend is one of UPS’s core principles and a hallmark of
the company’s financial strength. As previously disclosed, we
expect to continue paying regular cash dividends, with a targeted
dividend payout ratio, starting in 2022, of approximately 50% of
our prior year’s adjusted net income. In addition, we are pleased
that the Board has increased our flexibility to engage in share
repurchases. UPS will deploy a disciplined and balanced approach to
capital allocation, including returns to shareowners through
dividends and share repurchases.”
About UPS
UPS (NYSE: UPS) is one of the world’s largest package delivery
companies with 2020 revenue of $84.6 billion, and provides a broad
range of integrated logistics solutions for customers in more than
220 countries and territories. The company’s more than 540,000
employees embrace a strategy that is simply stated and powerfully
executed: Customer First. People Led. Innovation Driven. UPS is
committed to reducing its impact on the environment and supporting
the communities we serve around the world. UPS also takes a strong
and unwavering stance in support of diversity, equality, and
inclusion. The company can be found on the Internet at www.ups.com,
with more information at www.about.ups.com and
www.investors.ups.com.
Contacts:UPS Media Relations
404-828-7123
pr@ups.com
UPS Investor Relations
404-828-6059 (Option 4)
Investor@ups.com
United Parcel Service (NYSE:UPS)
Historical Stock Chart
From Mar 2024 to Apr 2024
United Parcel Service (NYSE:UPS)
Historical Stock Chart
From Apr 2023 to Apr 2024