In another sign of UPS’s fat profits, the company once again hiked payments to stockholders. Cash dividends have tripled since 2000.
The UPS Board of Directors declared an 8.8% increase in stock dividends on Feb. 13. UPS also announced a $10 billion corporate stock buy-back, much larger than had previously been announced.
UPS profits have stayed up in a down economy. The company made $4.38 billion last year alone. Shareholders are reaping the benefits. Dividends have steadily increased and tripled since 2000.
CEO Scott Davis stated that “During 2012 we generated almost $5.4 billion in free cash flow.”
It’s time for some of that cash to flow to the UPS Teamsters who are producing these profits.
Source: UPS Press Release