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Dividends

CRAK

IEO

MPC

MPLX

Marathon Petroleum Corporation (NYSE:MPC) reported strong Q2 FY24 results, surpassing revenue and EPS estimates. Total revenues were $38.362 billion, and adjusted EPS was $4.12. The company returned $3.2 billion to shareholders and has $5.8 billion remaining under its share repurchase authorizations. MPLX LP (NYSE:MPLX), in which Marathon holds a majority interest, also beat earnings and sales estimates. Investors can gain exposure via iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) and VanEck Oil Refiners ETF (NYSE:CRAK).

Portfolio Pulse from Lekha Gupta

August 06, 2024 | 12:51 pm

FOXA

Fox Corporation has announced an increase in its quarterly dividend from $0.26 to $0.27 per share.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 11:36 am

NOAH

Noah Holdings announced a record dividend payout of RMB 1,018 million for the full year 2023, including both a final and special dividend. Each dividend amounts to RMB 509 million, translating to RMB 1.54 per share.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 6:41 am

YUM

Yum! Brands, Inc. (NYSE:YUM) is expected to report lower Q2 earnings on Aug. 6, 2024, with EPS projected at $1.33, down from $1.41 last year. Revenue is expected to rise slightly to $1.8 billion. Recent analyst ratings include downgrades and reduced price targets from Stifel, Morgan Stanley, Deutsche Bank, and Evercore ISI Group. JP Morgan increased its price target. Yum! Brands declared a quarterly dividend of 67 cents per share and authorized up to $2.0 billion in share repurchases.

Portfolio Pulse from Avi Kapoor

August 06, 2024 | 6:12 am

IIPR

Innovative Industrial Properties, Inc. (NYSE:IIPR) reported its Q2 2024 financial results, highlighting a 4% revenue increase to $79.8 million, a 4.4% dividend boost to $1.90 per share, and portfolio expansions. The company maintains a strong balance sheet with $2.6 billion in assets and an 11% debt ratio.

Portfolio Pulse from Nicolás Jose Rodriguez

August 05, 2024 | 11:00 pm

SPG

Simon Property Group (NYSE: SPG) reported mixed Q2 results with an EPS miss but a revenue beat. The company reported earnings of $2.90 per share, missing the consensus estimate of $2.94, but revenue of $1.45 billion beat the estimate of $1.3 billion. Occupancy increased to 95.6%, and the company raised its quarterly dividend to $2.05 per share. Full-year FFO guidance was raised to between $12.80 and $12.90.

Portfolio Pulse from Erica Kollmann

August 05, 2024 | 9:18 pm

YUMC

Yum China plans to open 1,500-1,700 new stores and make capital expenditures of $700M-$850M in FY24. The company also aims to return $1.5B to shareholders through dividends and share repurchases.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:32 pm

SPG

Simon Property Group (SPG) has announced an increase in its quarterly dividend from $1.95 to $2.05 per share.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:28 pm

VNOM

Viper Energy announced an 11% increase in its annual base dividend to $1.20 per share and declared a Q2 2024 base cash dividend of $0.30 per Class A common share, payable on August 22, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:11 pm

ARCB

ArcBest Corporation (NASDAQ:ARCB) reported worse-than-expected Q2 adjusted EPS results, missing consensus estimates. Despite this, revenue was slightly above expectations. Analysts revised their price targets, with JP Morgan increasing and TD Cowen decreasing their targets. ArcBest declared a quarterly dividend and highlighted operational improvements.

Portfolio Pulse from Avi Kapoor

August 05, 2024 | 5:42 pm