ATLANTA, May 05, 2016 (GLOBE NEWSWIRE) -- 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.
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the web at ups.com® and its corporate blog can be found at longitudes.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.
Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, governmental regulations, our competitive environment, changes in the fact or assumptions underlying our health and pension benefit funding obligations, negotiation and ratification of labor contracts, strikes, work stoppages and slowdowns, changes in aviation and motor fuel prices, cyclical and seasonal fluctuations in our operating results, and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.