DivestmentMay 13, 2026, 04:13 PM
FedEx Board Approves FedEx Freight Spin-off; FDXF to Trade June 1
AI Summary
FedEx announced that its Board of Directors has approved the spin-off of FedEx Freight, with the U.S. SEC declaring the Registration Statement on Form 10 effective. FedEx will distribute 80.1% of FedEx Freight's outstanding common stock to its stockholders, who will receive one FedEx Freight share for every two FedEx shares held as of the May 15, 2026 record date. FedEx Freight common stock is expected to begin trading on the NYSE under the symbol "FDXF" on June 1, 2026. In connection with the separation, FedEx Freight will pay a $4.1 billion cash dividend to FedEx, and FedEx plans to redeem €354.88 million of its 1.300% notes due 2031.
Key Highlights
- FedEx Board approved the spin-off of FedEx Freight, distributing 80.1% of shares.
- FedEx stockholders to receive one FedEx Freight share for every two FedEx shares held.
- Record date for the distribution is May 15, 2026.
- FedEx Freight common stock to begin trading on NYSE as "FDXF" on June 1, 2026.
- FedEx will retain 19.9% of FedEx Freight shares, to be disposed of within 24 months.
- FedEx Freight to pay a $4.1 billion cash dividend to FedEx prior to separation.
- FedEx intends to redeem €354,878,000 of its 1.300% notes due 2031 by May 28, 2026.