UPS Boosts Dividend

The company puts its finance chief on the board.
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UPS

(UPS) - Get Report

boosted its quarterly dividend by a nickel and put its finance chief on the board.

The Atlanta-based package giant said the moves reflect the board's confidence in the company's financial position and prospects for growth.

UPS named finance chief Scott Davis to the board, replacing Lea Soupata, who retired last month as UPS's senior vice president for human resources.

The company also boosted its quarterly dividend to 38 cents a share from the previous 33 cents, payable March 7 to holders of record Feb. 21.

"UPS generates exceptional cash flow and has raised its dividend in nine of the last 10 years," said CEO Mike Eskew. "Moving forward, we are confident that the company will continue to produce consistent, strong growth."