(FedEx) FedEx stock rose more than 11% on Tuesday after announcing a quarterly cash dividend of $1.15 per share.
The declared dividend represents an increase of 53%, or $0.40 per share, from the previous $0.75. The company said the dividend is payable on July 11, 2022.
FedEx said that the increased dividend reflects the confidence in the business trajectory and the need to raise the returns for its shareholders.
The company also announced that it added a total shareholder return performance metric in the compensation program for its executives.
FedEx further announced the addition of two independent directors, Amy Lane and Jim Vena, effective immediately. The company will add a third independent director at a later stage, with the changes mutually agreed with the D.E. Shaw Group.
FDX:NYSE is up +13.06%.
