Dividend Hikes: FedEx - TheStreet

Dividend Hikes: FedEx

FedEx increases its cash dividend payment to shareholders by 9.1%
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NEW YORK (

TheStreet

) --

FedEx

(FDX) - Get Report

said Tuesday it has increased its cash dividend payment to shareholders by 9.1%, boosting shares at the start of trading.

FedEx

said it has upped its cash dividend to 12 cents per share from the previous dividend payment of 11 cents a share. The increased dividend is payable July 1 to shareholders of record at the close of trading June 17. The increase bumps FedEx's dividend yield to 0.62% from 0.57%.

Lately, FedEx shares were up 0.5% to $76.93.

FedEx will report fiscal fourth-quarter results on June 16, with analysts calling for a profit of $1.31 a share on revenue of $9.01 billion. When FedEx last reported earnings in March, the transportation giant forecasted fourth-quarter earnings of $1.17 to $1.37 a share.

In other dividend news, investors are watching for an indication of whether

BP's

(BP) - Get Report

dividend is in danger of being cut. President Obama criticized BP last week for planning to pay out billions of dollars in dividends while failing to keep up with claims filed by people and businesses who have lost money because of the oil spill in the Gulf of Mexico.

BP said it will pay the first-quarter dividend of 84 cents per American Depositary share on June 21 to shareholders of record on May 7.

Louisiana estimates that only 3,438 claims of the 7,469 filed have been

paid out by BP to individuals

, leaving 54% as pending.

>>Find Ex-Dividend Dates With Our Dividend Calendar

-- Written by Robert Holmes in Boston

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