Shares of FedEx are up 3.% or $6.81 at $233.30 in pre-market trading after the company announced a 10% quarterly dividend hike to 44c per share along with a $4B in benefits from cost-cutting transformation that consolidates its operating companies into one organization.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on FDX:
- FedEx Up after Dividend Hike, Cost Saving Initiatives, and Major Reorganization
- Melius starts FedEx with a Hold, sees more risk than at rival UPS
- Melius starts UPS with a Buy, sees company better set up for downturn
- FedEx initiated with a Hold at Melius Research
- FedEx price target raised to $240 from $200 at Argus