Latest news with #FedExCorp.
Yahoo
3 days ago
- Business
- Yahoo
FedEx Corp. Board Increases Quarterly Dividend Five Percent
MEMPHIS, Tenn., June 09, 2025--(BUSINESS WIRE)--The Board of Directors of FedEx Corp. (NYSE: FDX) today approved an increase in the annual dividend rate on FedEx Corp. common stock of 5%, or $0.28 per share, to $5.80 per share for fiscal 2026 in line with the company's continued focus on delivering stockholder value. The Board today also declared a quarterly cash dividend of $1.45 per share on FedEx Corp. common stock. The dividend is payable July 8, 2025 to stockholders of record at the close of business on June 23, 2025. "Increasing our annual dividend for the fifth consecutive year signals FedEx's continued commitment to creating value for our stockholders," said John W. Dietrich, executive vice president and chief financial officer of FedEx Corp. "Our capital allocation approach remains disciplined, balancing dividends, share repurchases, and prudent investment in the business." FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to management's views with respect to future events and financial performance and underlying assumptions. Forward-looking statements include those preceded by, followed by or that include the words "will," "may," "could," "would," "should," "believes," "expects," "forecasts," "anticipates," "plans," "estimates," "targets," "projects," "intends" or similar expressions. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the factors which can be found in FedEx Corp.'s and its subsidiaries' press releases and FedEx Corp.'s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. View source version on Contacts Media Contact: Caitlin Adams Maier 901-434-8100Investor Contact: Jeni Hollander 901-818-7200Home Page: Sign in to access your portfolio
Business Wire
3 days ago
- Business
- Business Wire
FedEx Corp. Board Increases Quarterly Dividend Five Percent
MEMPHIS, Tenn.--(BUSINESS WIRE)--The Board of Directors of FedEx Corp. (NYSE: FDX) today approved an increase in the annual dividend rate on FedEx Corp. common stock of 5%, or $0.28 per share, to $5.80 per share for fiscal 2026 in line with the company's continued focus on delivering stockholder value. The Board today also declared a quarterly cash dividend of $1.45 per share on FedEx Corp. common stock. The dividend is payable July 8, 2025 to stockholders of record at the close of business on June 23, 2025. 'Increasing our annual dividend for the fifth consecutive year signals FedEx's continued commitment to creating value for our stockholders,' said John W. Dietrich, executive vice president and chief financial officer of FedEx Corp. 'Our capital allocation approach remains disciplined, balancing dividends, share repurchases, and prudent investment in the business.' FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to management's views with respect to future events and financial performance and underlying assumptions. Forward-looking statements include those preceded by, followed by or that include the words 'will,' 'may,' 'could,' 'would,' 'should,' 'believes,' 'expects,' 'forecasts,' 'anticipates,' 'plans,' 'estimates,' 'targets,' 'projects,' 'intends' or similar expressions. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the factors which can be found in FedEx Corp.'s and its subsidiaries' press releases and FedEx Corp.'s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Yahoo
16-04-2025
- Business
- Yahoo
FedEx begins its first direct Singapore-US air cargo service
FedEx Corp. has introduced its first direct flight from Singapore to its regional hub in Anchorage, Alaska. The first direct connection for FedEx from Singapore to the United States is tailored to support shippers of heavier, palletized cargo rather than its express parcel network. The integrated logistics provider said Tuesday it will operate the route six times per week with a Boeing 777 freighter jet from Changi Airport to Anchorage, a major connection point for daily services to cities in the Lower 48. The aerospace, health care, industrial, high-tech and semiconductor industries are expected to be primary users of the new service. FedEx (NYSE: FDX) said it will operate a backhaul flight from Anchorage to Singapore once a week, with plans to expand frequency to five flights per week in the summer. The flight improves transit times, allowing shipments picked up in Malaysia, Singapore and Thailand on Saturday to arrive in the U.S. a day earlier, on Monday. Businesses shipping from across this dynamic region will enjoy enhanced connectivity when importing and exporting to the U.S. The new Singapore-Anchorage service is part of FedEx's buildout of a deferred air cargo network to compete with freighter operators for traditional cargo typically tendered by freight forwarders. The so-called Tricolor strategy is designed to better utilize airline assets by going after new business amid weaker parcel shipping demand. FedEx executives have said their daytime Orange network is the air equivalent to less-than-truckload service. Click here for more FreightWaves/American Shipper stories by Eric Kulisch. Write to Eric Kulisch at ekulisch@ FedEx makes big push for third-party air cargo New Trump tariffs could 'decimate' China e-commerce, airfreight demand The post FedEx begins its first direct Singapore-US air cargo service appeared first on FreightWaves. Sign in to access your portfolio
Yahoo
27-02-2025
- Yahoo
Porch Pirates Accessed FedEx and Telecom Data to Steal iPhones
(Bloomberg) -- Thirteen people were charged for their alleged role in intercepting logistics tracking data to steal thousands of iPhones and other expensive devices from people's doorsteps across the US. The Trump Administration Takes Aim at Transportation Research Shelters Await Billions in Federal Money for Homelessness Providers NYC's Congestion Pricing Pulls In $48.6 Million in First Month New York's Congestion Pricing Plan Faces Another Legal Showdown NYC to Shut Migrant Center in Former Hotel as Crisis Eases An international criminal network accessed logistics and telecommunication company data to work out when smartphones and other gadgets were being shipped, allowing members to send 'porch pirates' to steal the packages, Acting US Attorney Vikas Khanna of the District of New Jersey said Wednesday. Some of the defendants, who were either based in the Dominican Republic or the US, allegedly siphoned package information from a tool FedEx Corp. and telecommunication companies use to exchange data between apps and services. Some bribed employees at an unidentified telecom company to obtain confidential information about customers including orders, names, tracking numbers and delivery addresses, according to the US Attorney's office. The allegations underscore how criminals are using technology to propel petty theft into organized campaigns across the country. The total losses are difficult to quantify but are estimated to be millions of dollars, according to a person familiar with the matter who asked not to be named as the investigation is ongoing. 'With bad actors growing increasingly sophisticated, the shipping industry has been proactively working with law enforcement to address the rise of porch piracy,' a FedEx spokesperson said. Two of the defendants ran a makeshift logistics center out of a home in the Bronx, New York, where people brought stolen devices for sale, sometimes in bulk deliveries, according to prosecutors. Some of the defendants traveled around the country selling Apple Inc. or Samsung Electronics Co. smartphones or other gadgets, they said. The defendants — whose involvement span obtaining and selling the delivery information to stealing the packages — face maximum penalties ranging from 5 years to 20 years' imprisonment. Trump's SALT Tax Promise Hinges on an Obscure Loophole Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience Walmart Wants to Be Something for Everyone in a Divided America China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction Meet Seven of America's Top Personal Finance Influencers ©2025 Bloomberg L.P.
Yahoo
14-02-2025
- Business
- Yahoo
Lawmaker blames FedEx pressure, Trump bungling for de minimis U-turn
Democratic U.S. Rep. Rosa DeLauro on Wednesday criticized President Donald Trump for flip-flopping on canceling import benefits for inexpensive e-commerce products shipped from China and suggested that Fred Smith, chairman of express delivery giant FedEx Corp., played a role in last week's sudden reversal. The Connecticut congresswoman and the National Council of Textile Organizations called on the Trump administration to go further and entirely ban de minimis – a mechanism that allows goods under $800 in value to enter the country free of duty, with a simplified customs release process and virtually no inspection – for all e-commerce shipments. During a virtual news conference, DeLauro implied that FedEx's founder and chairman influenced Trump to relax his executive order against special treatment for low-value shipments from China when they met at the White House on Feb. 6. 'The pressure is coming from FedEx, UPS and DHL – the express shippers. Why is it that the President moved back on Feb. 7 [the day after] he met with the chair of the FedEx board?' she said. 'Shipping companies profit tremendously off non-tax de minimis packages, and we cannot let them continue to put their profits ahead of really protecting American jobs and families from dangerous substances like fentanyl.' Smith discussed a number of subjects during meetings at the White House, a FedEx (NYSE: FDX) spokesperson said in a statement to FreightWaves. Trump on Feb. 1 used emergency powers to close special treatment for low-value goods from China, saying the ability to bypass the formal entry process prevented U.S. Customs and Border Protection from assessing parcels for risk of fentanyl smuggling and avoiding tariffs. Three days later, the U.S. Postal Service, a relatively small conduit for e-commerce shipments, suspended acceptance of packages. The Postal Service changed its mind on Feb. 5, saying authorities needed more time to set up an effective mechanism for collecting duties without disrupting deliveries. Finally, Trump on Feb. 7 said he would pause eliminating the de minimis exemption until border agencies can figure out how to collect and process single parcels without backing up the import clearance system. An update to Section 321 of the Tariff Act a decade ago made it easier for small online sellers to import goods, but after the COVID crisis large e-commerce marketplaces in China took advantage of the program to fulfill orders directly from the factory. E-commerce volumes from China, which primarily enter the country by air, exploded from 134 million parcels per year to 1.36 billion parcels in fiscal year 2024, according to CBP figures. The agency clears about 4 million packages per day. Trump bungled the rollout of his enforcement action by acting quickly without carefully establishing an implementation plan, a pattern of behavior that has frequently resulted in whipsaw policy measures during his second term in office, said DeLauro. She called on the president 'to fully close the de minimis loophole once and for all. I am frustrated by the Trump administration's recent half measures and reversals on de minimis this past week. It has been the equivalent of taking one step forward and two steps back.' Limiting de minimis eligibility likely won't reduce the volume of products originating in China, but could change how they enter U.S. commerce. Instead of using air cargo, Chinese marketplaces and other e-tailers might switch to ocean shipping and fulfill orders from U.S. warehouses. It makes sense that CBP, the Postal Service and industry need a transition period while establishing procedures for collecting duties and extra data elements, selecting suspicious packages for inspection and adding necessary personnel. But the White House should have considered that before announcing its plan, the congresswoman said. 'It doesn't appear that anything these days is well thought out. They just throw it out there. And then, you know, see what the consequences are. And then we pull back, or there's a half measure. That's no way to move forward,' DeLauro said. She said Congress should remove the de minimis exemption from trade law if the president isn't able to. Legislation introduced last session that would have prohibited goods from nonmarket economies and other countries of concern from taking advantage of the Section 321 is a good template to follow, she added. Express carriers, including FedEx, and other interest groups pushed Congress to raise the de minimis threshold to $800 from $200 in 2016 with the goal of allowing small businesses and individual consumers to engage in e-commerce without needing to fill out cumbersome forms or employ the services of a customs broker. Promoting de minimis is a key agenda item for the Express Association of America, which represents FedEx, UPS and DHL. The companies were founding members of a CBP pilot project to collect additional information on low-value shipments. 'The Administration should be applauded for taking action to amend the executive order once it quickly became clear that limiting de minimis eligibility increases prices on everyday products for low-income Americans and significantly strains government resources at the border without a clear enforcement benefit,' said John Pickel, senior director of supply chain policy at the National Foreign Trade Council, via email. Kim Glass, president of the National Council of Textile Organizations, has previously supported the total elimination of de minimis because it is a conduit for cheap products, many made with forced labor, that undermine U.S. manufacturers. On Wednesday, she blamed de minimis for contributing to the closure of 27 plants across the United States during the past 20 months, because manufacturers can't compete with ultra-low-cost imports, some of which are made with forced labor. Although Trump's suspended de minimis order applies to Chinese goods shipped to the U.S. from any country, Glass said a complete ban is needed because CBP won't be able to detect transshipment schemes or hold anyone accountable for the contents of the package without a formal entry requirement. Pickel dismissed the transshipment argument, saying the profit margin is so low on individual de minimis products 'that it doesn't seem economical to send a $54 shipment (the average value of de minimis) to another country just to send it to the U.S.' Click here for more FreightWaves/American Shipper articles by Eric Kulisch. Write to Eric Kulisch at ekulisch@ Air cargo industry jolted by Trump tariffs on Chinese e-commerce US Customs tightens enforcement on low-value e-commerce trade The post Lawmaker blames FedEx pressure, Trump bungling for de minimis U-turn appeared first on FreightWaves.
