FedEx (FDX) announced that its Board of Directors has approved the previously announced separation of the FedEx Freight (FDXF) business. The FedEx Board declared a pro rata dividend of 80.1% of the outstanding shares of common stock of FedEx Freight Holding Company to FedEx’s stockholders of record as of the close of business on May 15 to achieve the separation. Following the separation, FedEx Freight common stock will begin trading on the New York Stock Exchange on June 1 under the symbol “FDXF.”
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