Streetbeat News

Dividends

NHC

National HealthCare Corporation (NYSE:NHC) announced a 3.4% increase in its quarterly dividend, from $0.59 to $0.61 per share, payable on August 1, 2024, to shareholders of record on June 28, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:44 pm

GPI

Group 1 Automotive, Inc. (NYSE:GPI) announced a new $250M share repurchase authorization and declared a quarterly dividend increase from $0.45 to $0.47 per share. The repurchase program was increased by $161M to the new total, with 205,551 shares already bought back at an average of $264.74 each. The dividend increase is part of a 4% rise in the annualized rate from $1.80 to $1.88 per share for 2024. Repurchases are to be funded by cash from operations and held in treasury.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:42 pm

PBA

Pembina Pipeline announced a 3.4% increase in its quarterly dividend to C$0.69 per share.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:32 pm

VCTR

Victory Capital's Board has authorized a 10% increase in the quarterly cash dividend, raising it from $0.335 to $0.37, to be paid in June.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:32 pm

BERY

Berry Global Group, Inc. (NYSE:BERY) reported Q2 adjusted earnings per share of $1.95, surpassing estimates of $1.91, but its quarterly revenues of $3.076 billion fell short of the expected $3.155 billion. The company experienced a 6% year-over-year net sales decrease, primarily due to a 5% negative impact from lower resin prices and a 2% decline in volumes. Operating income dropped to $208 million from $301 million, largely due to goodwill write-offs in the Consumer Packaging International segment. Despite these challenges, Berry reaffirmed its 2024 adjusted EPS outlook of $7.35-$7.85 and expects cash flow from operations of $1.35 billion-$1.45 billion, with free cash flow of $800 million-$900 million. The company also declared a quarterly cash dividend of $0.275 per share. BERY shares fell by 2.82% to $59.53.

Portfolio Pulse from Nabaparna Bhattacharya

May 09, 2024 | 5:33 pm

NLCP

Cannabis REIT NewLake Capital Partners Inc. (NLCP) reported a 10.4% increase in Q1 2024 revenue, reaching $12.6 million. Net income and FFO also saw year-over-year increases. The company highlighted its strategic expansion, including a $4 million acquisition of a Connecticut cultivation facility and a $12 million commitment for tenant improvements. NewLake's CEO expressed optimism about the cannabis industry's future, especially with potential marijuana rescheduling. NLCP's stock was up 0.33% at $20.35 per share.

Portfolio Pulse from Patricio Liddle

May 09, 2024 | 5:25 pm

SPB

Spectrum Brands Holdings, Inc. (NYSE:SPB) reported Q2 adjusted earnings per share of $1.62, surpassing expectations of 62 cents, with sales of $718.5 million beating forecasts of $707.52 million. Despite a 1.5% decline in net sales due to reduced demand in certain categories, gross profit increased by 27.5% to $273.5 million, and adjusted EBITDA from continuing operations soared by 120.2% to $112.3 million. The company also declared a quarterly dividend of $0.42 per share and updated its FY24 outlook, expecting net sales to be flat compared to fiscal 2023 and adjusted EBITDA to increase by low double-digits.

Portfolio Pulse from Nabaparna Bhattacharya

May 09, 2024 | 4:32 pm

FUN

SIX

Cedar Fair, L.P. (NYSE:FUN) reported a 20% Y/Y increase in Q1 FY24 sales to $101.6 million, surpassing analyst expectations. Despite a slight net loss reduction to $(133) million, attendance rose by 27% Y/Y, driven by higher season pass sales and favorable weather. The company also announced a quarterly cash distribution of $0.30 per LP unit. Cedar Fair and Six Flags Entertainment Corp (NYSE:SIX) are progressing with their proposed merger, working with the DOJ. FUN shares rose 6.97% following the announcement.

Portfolio Pulse from Lekha Gupta

May 09, 2024 | 3:50 pm

EQIX

NOW

SRHR

SRVR

Equinix, Inc. (NASDAQ:EQIX) shares rose after reporting Q1 FY24 results with a 6% Y/Y revenue increase to $2.13 billion, slightly missing consensus. Adjusted EBITDA and FFO per share exceeded expectations. The company declared a quarterly dividend of $4.26, has 50 major projects underway, and sees AI as a growth catalyst. Equinix provided a lower FY24 revenue outlook than previously but remains optimistic. ServiceNow, Inc. (NYSE:NOW) expanded its strategic relationship with Equinix. Exposure to Equinix stock is also possible through Pacer Data & Infrastructure Real Estate ETF (NYSE:SRVR) and Elevation Series Trust SRH REIT Covered Call ETF (NYSE:SRHR). EQIX shares are up 11.6%.

Portfolio Pulse from Lekha Gupta

May 09, 2024 | 3:36 pm

BGSF

BGSF shares are trading lower following the announcement of disappointing Q1 sales results. Additionally, the company is exploring potential strategic alternatives and has suspended its quarterly cash dividend.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 3:25 pm