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Stock Market News

FedEx raises dividend by over 50%, adds two directors to board

06/14/2022

Less than a minute

2022.06.14 16:11

FedEx raises dividend by over 50%, adds two directors to board
FILE PHOTO: A person walks by a FedEx van in Manhattan, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly/File Photo

(Reuters) -U.S. delivery firm FedEx Corp (NYSE:FDX) on Tuesday raised its quarterly dividend by more than 50% to $1.15 per share, sending its shares 10% higher in premarket trading.

The company also said it would add two directors – Amy Lane and Jim Vena – to its board as part of an agreement with hedge fund D.E. Shaw.

Vena most recently held the role of chief operating officer at Union Pacific (NYSE:UNP), while Lane serves as a director of NextEra Energy Inc (NYSE:NEE) and TJX Companies Inc (NYSE:TJX).

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06/14/2022

Less than a minute