UPS Board Sets Dividend, New Committee Assignments
The Board of Directors of UPS (NYSE:UPS) today declared a regular quarterly dividend of $0.42 per share on all outstanding Class A and Class B shares and realigned committee assignments.
The dividend is payable June 5, 2007, to shareholders of record on May 21, 2007.
Today’s declaration follows a Board decision in February to increase the quarterly dividend from $0.38 per share to the current $0.42 per share. UPS has maintained or increased its dividend every year since 1969 and now has increased the quarterly payout five times in the past four years.
In a separate action, following the election of directors at today’s shareowners’ meeting, the Board appointed the following committees: Audit; Nominating; Corporate Governance and Compensation, and Executive. It selected Victor A. Pelson as the new chair of Nominating and Corporate Governance, replacing Gary MacDougal, who did not stand for re-election at today’s annual shareowners’ meeting. Other members of that committee include Ann M. Livermore and James P. Kelly.
The Board named John W. Thompson chair of the Compensation Committee, replacing Pelson in that role. The Compensation Committee includes Stuart E. Eizenstat and Pelson. The composition of the Audit Committee, chaired by Carol Tomé, did not change. Other Audit Committee members include Thompson, Michael J. Burns and Ben Verwaayen. The Executive Committee includes Mike Eskew, chairman and CEO, and Scott Davis, vice chairman and CFO.
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