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United Parcel Service Declares Dividend; Approves Stock Repurchase Authorization

Thursday, 3 May 2012 04:30pm EDT 

United Parcel Service announced that its Board of Directors declared a regular quarterly dividend and approved a $5 billion stock repurchase authorization. The Board declared a regular quarterly dividend of $0.57 per share on all outstanding Class A and Class B shares. The dividend, which reflects a 10% increase approved in February, is payable May 30, 2012, to shareholders of record on May 14, 2012. The new share repurchase authorization has no expiration date and replaces one originally announced in 2008. UPS expects to use approximately $5 billion of available cash and issue about $1.8 billion in new debt to finance the acquisition of TNT Express. Compared to the company‚Äôs initial guidance, this represents a $2 billion increase in cash used to fund the acquisition. In addition, the company revised guidance for share repurchases. UPS plans to spend $1.5 billion on share repurchases in 2012 and expects the same level of activity in 2013. 

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