ATLANTA - UPS (NYSE:UPS) has declared a regular quarterly dividend of $1.63 per share for both Class A and Class B shares, demonstrating the company's consistent commitment to shareholder returns. The dividend is scheduled to be distributed on September 5, 2024, to shareholders on record as of August 19, 2024.
This announcement aligns with UPS's longstanding practice of rewarding its shareholders, a tradition that has been upheld since the company's public offering in 1999. The maintenance or increase of dividend payouts each year reflects UPS's financial stability and dedication to its core principles.
United Parcel Service (NYSE:UPS), Inc., commonly known as UPS, is recognized as one of the largest logistics companies globally, boasting revenues of $91.0 billion in 2023.
The company operates in over 200 countries and territories, providing a wide array of integrated logistics solutions. With a significant workforce of approximately 500,000 employees, UPS prioritizes a customer-centric, leadership-driven, and innovation-focused strategy.
In addition to its logistics services, UPS is actively engaged in environmental sustainability initiatives and community support while promoting a diverse and inclusive work environment.
The company's latest dividend declaration is based on a press release statement and is part of its ongoing efforts to deliver value to its shareholders.
InvestingPro Insights
As UPS (NYSE:UPS) continues to demonstrate a strong commitment to shareholder returns with its latest dividend announcement, InvestingPro data and insights offer a deeper look into the company's financial health and market position. With a robust market capitalization of $105.71 billion, UPS shows its prowess in the Air Freight & Logistics industry, not only as a prominent player but also as a stable investment for dividend-seeking shareholders.
InvestingPro Tips reveal that UPS has not only raised its dividend for 14 consecutive years but has also maintained dividend payments for an impressive 26 consecutive years, highlighting its dedication to consistent shareholder rewards. Additionally, despite recent downward earnings revisions by analysts for the upcoming period, UPS is still expected to be profitable this year, as reflected in its basic and diluted EPS of $6.13 over the last twelve months as of Q2 2024.
The company's dividend yield stands at a significant 5.24%, as of the latest data, which is particularly attractive to investors looking for income-generating stocks. Moreover, UPS operates with a moderate level of debt, which suggests a balanced approach to leveraging and financial management. While the stock is trading near its 52-week low, presenting a potential opportunity for value investors, it is also trading at a high Price/Book multiple of 6.2, suggesting a premium valuation relative to its book value.
For those interested in further insights, there are 15 additional InvestingPro Tips available that provide a comprehensive analysis of UPS's financial metrics and market performance. These tips, along with real-time data, can be accessed to inform investment decisions and strategies.
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