FedEx raises dividend to 20 cents from 15 cents

Friday, June 6, 2014, Vol. 38, No. 23

NEW YORK (AP) — FedEx is raising its quarterly dividend to 20 cents from 15 cents.

Companies often spend their cash on shareholder dividends or stock buybacks.

FedEx Corp. last raised its dividend by a penny, to 15 cents, a year ago.

The Memphis company will pay its next dividend on July 3.

The company is also scheduled to release its quarterly financial report on June 18.