UPS has reported its quarterly dividend.
Takeaway Points
- UPS reports its quarterly dividend.
- The dividend is payable Dec 5, 2024, to shareowners of record on Nov 18, 2024.
- Commitment to the dividend is one of UPS’s core principles and a hallmark of the company’s financial strength.
- On Sept. 7, 2024, UPS named Brian Dykes as Chief Financial Officer.
- He will be responsible for UPS’s financial strategies and will lead the global finance organization.
- Dykes, 46, has spent more than 25 years with UPS, most recently serving as Senior Vice President, Global Finance and Planning, since April 2023.
UPS Quarterly Dividend Report.
UPS on Wednesday announced its regular quarterly dividend of $1.63 per share on all outstanding Class A and Class B shares. The dividend is payable Dec 5, 2024, to shareowners of record on Nov 18, 2024.
The announcement came 13 days after UPS announced third-quarter 2024 consolidated revenues of $22.2 billion and a 5.6 percent increase from the third quarter of 2023. Consolidated operating profit was $2.0 billion, up 47.8 percent compared to the third quarter of 2023, and up 22.8 percent on a non-GAAP adjusted basis.
According to the report, commitment to the dividend is one of UPS’s core principles and a hallmark of the company’s financial strength. UPS has either maintained or increased its dividend each year since going public in 1999.
UPS Names Brian Dykes as Chief Financial Officer
On Sept. 7, 2024, UPS said it had appointed Brian Dykes as its new Executive Vice President and Chief Financial Officer. Effective immediately, he will be responsible for UPS’s financial strategies and will lead the global finance organization, including planning, treasury, tax, financial reporting, financial operations, and investor relations.
UPS Chief Executive Officer Carol B. Tomé said that Brian’s experience is what makes him qualified, and she and the board are confident that his financial and business understanding makes him the best person to lead the company’s global finance.
“I am delighted to appoint Brian as our next CFO. Brian’s experience makes him uniquely qualified. The Board and I are confident that Brian’s financial and business acumen, honed in a variety of strategic leadership roles at UPS during his career, make him the best person to lead our global finance function as we execute on our Better and Bolder strategy to drive shareowner value,” Tomé said.
About Brian Dykes
UPS said that Dykes, who is 46, has spent more than 25 years with UPS, most recently serving as Senior Vice President, Global Finance and Planning, since April 2023. Before that role, Dykes held positions of increasing responsibility within the company’s finance and accounting, corporate treasury, mergers and acquisitions, business intelligence, and business development functions, both in the U.S. and internationally.
About UPS
UPS (NYSE: UPS) is one of the world’s largest companies, with 2023 revenue of $91.0 billion, and provides a broad range of integrated logistics solutions for customers in more than 200 countries and territories. Focused on its purpose statement, “Moving our world forward by delivering what matters,” the company’s approximately 500,000 employees embrace a strategy that is simply stated and powerfully executed: Customer First. People Led. Innovation Driven. UPS is committed to reducing its impact on the environment and supporting the communities we serve around the world.
