FedEx stock has risen nearly 12% after the delivery company raised its dividend and stated it would add three directors to its board in a deal with activist investor DE Shaw. FDX up +12.49%, SPX up +0.16%
- The FedEx board declared a quarterly cash dividend of $1.15 per share on its common stock, representing a $0.40 per share, or 53%, rising from the prior dividend of $0.75.
- The dividend is set to be paid on July 11, 2022, to stockholders of record at the end of business on June 27, 2022.
- The company also posted that its cash-based long-term incentive program for the fiscal year 2023 through 2025 includes an additional performance metric linked to total shareholder return relative to a broad market index.
- The company is also adding two independent directors, Amy Lane and Jim Vena, to its board immediately.