Streetbeat News

Dividends

RLI

RLI Corp. (NYSE:RLI) has increased its quarterly dividend from $0.27 to $0.29 per share, marking the 49th consecutive year of dividend increases. The new dividend is payable on June 20, 2024, to shareholders of record as of May 31, 2024. The dividend yield based on the new annual rate and the recent closing price is 0.81%.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:04 pm

PBI

Pitney Bowes Inc. (NYSE:PBI) shares surged over 24% after reporting Q1 results that exceeded analyst expectations. The company posted a narrower loss per share of $(0.01) compared to the expected $(0.04) and revenues of $830.509 million against forecasts of $796.995 million. Despite a net loss of $(3) million, adjusted EBIT rose 71% year over year to $56 million, attributed to cost reduction from the 2023 restructuring plan. Shipping-related revenue increased by 8%, while mailing-related revenue declined by 4%. The company declared a quarterly dividend of $0.05 per share and reiterated its FY24 outlook for flat to low-single-digit revenue decline and stable EBIT margins.

Portfolio Pulse from Nabaparna Bhattacharya

May 02, 2024 | 3:43 pm

WEN

Wendy's Company (NASDAQ:WEN) shares rose by 3% after reporting Q1 results, with adjusted earnings per share of 23 cents, surpassing the expected 21 cents. However, quarterly sales of $534.753 million fell short of the anticipated $540.972 million. The growth was attributed to increased advertising funds revenue and franchise royalty revenue, driven by new restaurant development and higher same-restaurant sales. U.S. breakfast sales saw high-single digit growth year-over-year, and digital sales comprised nearly 17% of global sales. The company also announced a quarterly cash dividend of 25 cents per share and maintains its global systemwide sales growth forecast of 5% to 6% for the fiscal year.

Portfolio Pulse from Nabaparna Bhattacharya

May 02, 2024 | 3:22 pm

IRM

Iron Mountain Incorporated (NYSE:IRM) reported Q1 earnings with adjusted EPS of 43 cents and revenue of $1.477 billion, surpassing expectations. Revenues increased by 12.2% year-over-year, driven by growth in storage rental and service revenue. Adjusted EBITDA and AFFO also saw significant increases. The company declared a quarterly dividend of 65 cents per share and reaffirmed its full-year 2024 revenue guidance of $6 billion-$6.15 billion, with an AFFO per share of $4.39-$4.51. Despite the positive report, IRM shares dropped by 1.8%.

Portfolio Pulse from Nabaparna Bhattacharya

May 02, 2024 | 2:25 pm

HAP

HJEN

SHEL

Shell plc (NYSE:SHEL) reported Q1 FY24 earnings with revenue of $72.48 billion, missing consensus estimates of $82.04 billion. Despite this, adjusted earnings rose 6% Q/Q to $7.73 billion, and adjusted EBITDA increased 15% Q/Q to $18.71 billion. The company announced a dividend of $0.344 per share and a $3.5 billion share buyback program. Shell's stock has gained over 22% in the last 12 months, and it is also featured in the Direxion Hydrogen ETF (NYSE:HJEN) and VanEck Natural Resources ETF (NYSE:HAP).

Portfolio Pulse from Lekha Gupta

May 02, 2024 | 1:43 pm

CMS

PPL

SRE

Wall Street's most accurate analysts recommend buying three utilities stocks with over 3% dividend yields: CMS Energy Corporation (CMS), Sempra (SRE), and PPL Corporation (PPL). These recommendations are based on their high dividend yields, strong quarterly earnings, and positive analyst ratings with increased price targets.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 12:56 pm

AIG

American International Group (AIG) has announced an increase in its quarterly dividend from $0.36 to $0.40 per share, marking an 11% increase and the second consecutive year of 10%+ dividend increases.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:52 pm

META

Meta Platforms (NASDAQ:META) reported better-than-expected Q1 earnings, with a 7% year-over-year increase in Family Daily Active People. The company anticipates higher capital spending to support its AI roadmap. The European Commission is investigating Meta's Facebook and Instagram for inadequate Russia disinformation moderation. Meta's dividend yield is 0.46%, requiring substantial investment for significant dividend income. Shares rose 2.1% to $439.19.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 12:52 pm

MSA

MSA Safety Incorporated (NYSE:MSA) announced an 8.5% increase in its quarterly dividend, from $0.47 to $0.51 per common share, marking its 54th consecutive annual dividend increase. The dividend is payable on June 10, 2024, to shareholders of record as of May 15, 2024. This increase reflects MSA Safety's confidence in its strategy for sustainable profitable growth and its commitment to delivering attractive long-term returns to shareholders. Additionally, a dividend of $0.5625 per share on preferred stock was declared, payable on June 1, 2024, to shareholders of record on May 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:34 pm

D

Dominion Energy has reaffirmed its FY24 adjusted EPS outlook of $2.62-$2.87, aligning with the $2.86 estimate. Additionally, the company maintains its FY25 EPS guidance of $3.25-$3.54 and reiterates its financial guidance from the March 1, 2024 investor meeting, covering earnings, credit, and dividends.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 11:39 am