FedEx Corp. Board Increases Quarterly Dividend 10 Percent

Rhea-AI Summary

The Board of Directors of FedEx Corp. (NYSE: FDX) has approved a 10% increase in the annual dividend rate to $5.52 per share for fiscal 2025.

The quarterly cash dividend is set at $1.38 per share, payable on July 9, 2024, to stockholders of record on June 24, 2024.

This move aligns with FedEx's strategy of delivering value to stockholders.

FedEx, with an annual revenue of $88 billion, offers a broad range of global transportation, e-commerce, and business services. The company employs over 500,000 people and aims for carbon-neutral operations by 2040.

Positive

• 10% increase in annual dividend rate to $5.52 per share for fiscal 2025.
• Quarterly cash dividend set at $1.38 per share.
• FedEx has an annual revenue of $88 billion.
• Commitment to carbon-neutral operations by 2040.

Negative

• None.

MEMPHIS, Tenn.--(BUSINESS WIRE)--

The Board of Directors of FedEx Corp. (NYSE: FDX) today approved an increase in the annual dividend rate on FedEx Corp. common stock of 10%, or $0.48 per share, to $5.52 per share for fiscal 2025 in line with the company’s continued focus on delivering stockholder value. The Board today also declared a quarterly cash dividend of $1.38 per share on FedEx Corp. common stock. The dividend is payable July 9, 2024 to stockholders of record at the close of business on June 24, 2024.

“We remain committed to creating value for our stockholders,” said John W. Dietrich, executive vice president and chief financial officer of FedEx Corp. “This dividend increase is an important component of our disciplined approach to capital allocation, which also includes share repurchases and prudently investing in our business.”

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to management’s views with respect to future events and financial performance and underlying assumptions. Forward-looking statements include those preceded by, followed by or that include the words “will,” “may,” “could,” “would,” “should,” “believes,” “expects,” “forecasts,” “anticipates,” “plans,” “estimates,” “targets,” “projects,” “intends” or similar expressions. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240607508408/en/

Media Contact: Caitlin Adams Maier 901-434-8100

Investor Contact: Jeni Hollander 901-818-7200

Home Page: fedex.com

Source: FedEx Corp.

FAQ

What is the new annual dividend rate for FedEx (FDX) stock?

FedEx has increased the annual dividend rate by 10% to $5.52 per share for fiscal 2025.

When is the FedEx quarterly cash dividend payable?

The quarterly cash dividend of $1.38 per share is payable on July 9, 2024.

What is the record date for the upcoming FedEx dividend?

Stockholders of record by the close of business on June 24, 2024, are eligible for the dividend.

How does FedEx's dividend increase align with its capital allocation strategy?

FedEx's dividend increase reflects its disciplined approach to capital allocation, which includes share repurchases and prudent investments.

What are FedEx's plans for environmental sustainability?

FedEx aims to achieve carbon-neutral operations by 2040.