UPS Raises Dividend By 9%

United Parcel Service raised its quarterly dividend to 73 cents a share, up 9% from the previous dividend of 67 cents. The new dividend is payable on March 10 to shareholders of record as of Feb. 23. Based on Wednesday's closing price of $100.91, the new annual dividend of $2.92 a share represents a 2.9% yield, compared with a current 2% yield for the S&P 500. The stock, which edged up 0.2% in after-hours trade, has declined 7.2% over the past three months, while the S&P 500 has gained 1.4%.