FedEx surged over 12% in morning trading after increasing its quarterly dividend by more than 50%.
FedEx said it would raise its quarterly dividend by 53% to $1.15, up from $0.70. The dividend will be paid on July 11 to investors who owned the stock as of the end of trading on June 27.
The company also added three directors in an agreement with DE Shaw and aid it would focus on shareholder returns and would tie executive compensation, in part, to those returns,
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