FedEx Announces Increased Dividend; Announces Board Changes

(RTTNews) - FedEx Corporation (FDX) announced a series of business and corporate governance actions consistent with its efforts to drive long-term value creation for stakeholders. The company is adding two independent directors, Amy Lane and Jim Vena, to its Board effective immediately. These appointments were made in connection with a cooperation agreement with the D. E. Shaw group. Also, the D. E. Shaw group has agreed to certain customary voting and standstill provisions.

The FedEx Board declared a quarterly cash dividend of $1.15 per share on its common stock. This represents a $0.40 per share, or 53 percent, increase from the previous dividend of $0.75. The dividend is payable on July 11, 2022, to stockholders of record as of the close of business on June 27, 2022.

The company also announced that its cash-based long-term incentive program for fiscal 2023 through 2025 includes an additional performance metric tied to FedEx's total shareholder return relative to a broad market index.