FedEx to Consolidate Operations
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 6 April 2023
⏱️ 11 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning, today is Thursday, April 6th that I'm your host, Jupy Morgan. |
| 0:12.0 | FedEx announces changes to its structure. |
| 0:15.0 | The company is consolidating in a cost-saving effort. |
| 0:19.7 | Today is crypto Thursday, so that means we're hearing from our weekly contributor Mike |
| 0:24.3 | Fay with blockchain reaction on seeking alpha one of the topics he's considering is |
| 0:29.6 | Bitcoin mining in March. We are starting to see March production disclosures trickling in with marathon digital ride |
| 0:36.7 | platforms, bit farms, and Clean Spark already reporting their month end figures. |
| 0:41.8 | Amazon is looking into reducing stock awards for employees. |
| 0:46.0 | Any official changes would not take place until fiscal year 2025. |
| 0:51.0 | Our top story, FedEx announces long-term cost-saving initiatives. |
| 0:57.0 | The company announced a consolidation of overall delivery operations |
| 1:01.0 | ahead of its Investor Day event on Wednesday. |
| 1:04.0 | According to the announcement, FedEx Express, FedEx Ground, FedEx Services, and other FedEx |
| 1:09.8 | operating companies will be consolidated under one umbrella Federal Express Corporation. |
| 1:16.0 | Meanwhile FedEx Freight will operate as a standalone company. |
| 1:20.0 | The transition to the new company structure is due to be fully implemented by June of 2024. |
| 1:26.2 | In addition to those changes, according to the investors section of the FedEx website, |
| 1:31.0 | the Board of Directors approved an increase in the annual |
| 1:34.0 | dividend rate on its common stock of 10% or 44 cents per share to $5.04 |
| 1:40.3 | per share for fiscal year 2024. |
| 1:43.6 | The board declared a quarterly cash dividend of $1.26 per share of FedEx Common |
... |
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