The Board of Directors of UPS have declared a regular quarterly dividend of 28-cents per share on all outstanding Class A and Class B shares.
The dividend is payable June 2, 2004, to shareholders of record on May 17, 2004.
The Board, meeting in a regularly scheduled session, also raised to USD1 billion its authorisation for the repurchase of Class A and Class B shares.
Read MoreGerman Economics and Labor Minister Wolfgang Clement said he opposes a European Union demand to amend a law protecting Deutsche Post AG’s monopoly on some services.
Companies including Federal Express Europe Inc. and United Parcel Deutschland Inc. & Co. say the mail carrier’s letter monopoly, protected through 2007, infringes EU competition rules. Mario Monti, the trade bloc’s competition commissioner, wants a legal amendment, easing Deutsche Post’s domination of so-called mail preparation activities, such as collecting and sorting.
Read MoreDeutsche Post World Net AG said it still expects to post 5-10 pct growth in EBITA in 2004 and said it hopes to be the world’s top logistics company by next year.
‘This year … we want to increase our operating results (EBITA),’ CEO Klaus Zumwinkel said in his opening speech at Deutsche Post’s annual general meeting.
He said the company expects ‘particularly strong EBITA increases in the Express division and in Financial Services’ this year.
Read MoreFinland Post Corporation (Suomen Posti Oyj) reported on Thursday (6 May) an operating profit of EUR29.3m on turnover of EUR313.0m for the financial period January-March 2004.
Both operating profit and turnover for the three-month period increased, respectively by 14percent and by 9percent, as compared to the corresponding period in 2003.
Read MoreNEC Corp has received from Post Danmark an order for eight high-speed mail sorting units capable of handling such larger articles as catalogs.
The equipment is expected to be shipped within the year. Seeing a need for a specialized sorting system in light of the growing market for large mail parcels, NEC developed a high-speed processing device. It plans to expand sales of the system to domestic and overseas postal and home delivery firms.
Read MoreAstron takes over Edotech for £130m
Read MoreThe Danish government obviously intends to lower the monopoly limit for letters from 100 to 50 grams from 2005. According topress reports, this is the most important amendment to the new Postal Act, due to come into force in June. In addition to the earlier lowering of the monopoly limit, the following amendments are expected: 1. All political parties agree that the legal framework for future competition between Post Danmark and other service providers should be regulated by national and EU competition laws only. 2. As far as the number of post office branches is concerned,the government intends to ensure that any town with morethan 5,000 inhabitants has at least one service point offering the full range of postal services. Today, existingbranches in smaller communities (between 2,000 and 5,000 inhabitants) are not allowed to close down. 3. The proceeds from the sale of 25% of Post Danmark’s shares are to be used to reduce government debt. 4. In the controversial matter of letter boxes in apartment blocks, the parties have now agreed that buildings erected before 1974 must be equipped with such letter boxes by December 2009.
Read MoreThe U.S. Postal Service is seeing the improving economy spark increased volume for Standard mail and some of its package business, deputy postmaster general John Nolan told attendees to the Mailers Technical Advisory Committee meeting here at postal headquarters. First-Class mail, however, is “not changing dramatically in the short term and remains a challenge,” he said.
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