(NYSE: UPS) is having a challenging year, so don't be surprised if there's more volatility to come soon. That said, long-term investors won't worry if the company can deliver long-term growth while maintaining a handsome dividend (current yield is 4.3%). There's a strong case for the latter, and UPS represents one of the most attractive stocks on the market for income-seeking investors. Here's why.
First, let's touch on why UPS stock is down 12.6% this year. It comes down to weaker-than-expected volumes in both its U.S. domestic package and international segments. Volumes have declined significantly in 2023, and even though average revenue per piece improved in the U.S. domestic package segment and overall in its package delivery business (UPS also has a supply chain solutions business), it wasn't enough to stop revenue from declining.
UPS First Half YOY Growth
Source Fool.com