Streetbeat News

Dividends

GWW

W.W. Grainger, Inc. (NYSE:GWW) has increased its quarterly dividend by 10% to $2.05 per share and refreshed its share repurchase authorization to up to 5 million shares, replacing the existing authorization. The dividend is payable on June 1, 2024, to shareholders of record as of May 13, 2024. This marks the company's 53rd consecutive year of increased dividends, demonstrating its commitment to shareholder returns while continuing to invest in the business.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:08 pm

RILY

B. Riley Financial, Inc. (NASDAQ:RILY) shares surged after an independent investigation by Winston & Strawn LLP found no involvement or knowledge of misconduct by the company or its executives related to allegations against Brian Kahn. The investigation followed claims by short sellers and an internal review. The stock's significant rise is also attributed to heavy trading volume and a high short interest. B. Riley pays a dividend with a yield of 10.68% as of April 24.

Portfolio Pulse from Erica Kollmann

April 24, 2024 | 2:06 pm

RSPC

T

XLC

AT&T Inc. reported a slight decline in Q1 2024 operating revenues to $30.03 billion, missing consensus estimates. However, adjusted EPS of $0.55 exceeded expectations, leading to a stock price increase. The company saw declines in Mobility equipment revenues and Business Wireline revenues but reported increases in wireless net adds, AT&T Fiber net adds, and improved churn rates. Adjusted EBITDA rose to $11.0 billion, with significant increases in operating cash flow and free cash flow. AT&T's focus under CEO John Stankey has been on its core communications services, recovering from recent incidents including a network outage and a security breach. The company maintains its FY24 outlook with expected growth in wireless and broadband revenues, and reaffirms its 2025 EPS growth guidance. AT&T stock is accessible through ETFs like RSPC and XLC.

Portfolio Pulse from Anusuya Lahiri

April 24, 2024 | 1:00 pm

META

Meta Platforms, Inc. (NASDAQ:META) is expected to report Q1 earnings with a significant increase in both earnings per share and revenue, according to analysts. Keybanc and JMP Securities analysts have provided optimistic ratings and price targets for META ahead of the earnings release. Additionally, the article outlines how investors can generate monthly income from Meta's dividends, emphasizing the required investment to achieve specific income goals. META's stock price recently rose 3%, indicating positive market sentiment.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 12:44 pm

ET

Energy Transfer LP (NYSE:ET) announced an increase in its quarterly cash distribution to $0.3175 per unit, a 3.3% rise from the first quarter of 2023. The distribution is for the first quarter ended March 31, 2024, payable on May 20, 2024, to unitholders of record as of May 13, 2024. Additionally, Energy Transfer will release its Q1 2024 earnings on May 8, 2024, followed by a conference call to discuss the results and provide a company update.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 12:35 pm

LNC

NYCB

WU

Wall Street's most accurate analysts have provided updates on three financial stocks with over 6% dividend yields: Lincoln National Corporation (LNC), New York Community Bancorp, Inc. (NYCB), and The Western Union Company (WU). These updates include changes in price targets and ratings, reflecting the analysts' views on the stocks' future performance. Additionally, recent news for each company has been highlighted, such as upcoming earnings reports and executive team appointments.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 12:11 pm

LAD

Lithia Motors, Inc. (NYSE:LAD) reported a 23% year-on-year sales growth for Q1 FY24, with sales of $8.56 billion surpassing analyst estimates. New and used vehicle revenues saw significant increases, while GreenCars and Driveway Finance Corporation also reported growth. However, gross margin contracted, operating income fell by 9.9%, and adjusted EPS missed analyst expectations. The company announced a dividend and has a significant share repurchase authorization remaining. Shares fell 3.55% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 24, 2024 | 11:40 am

EVR

Evercore's Board of Directors declared a 5% increase in its quarterly dividend to $0.80 per share, payable on June 14, 2024, to stockholders of record as of May 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:55 am

TNL

Travel Leisure announced its intention to recommend a Q2 dividend of $0.50 per share for approval by the company's Board of Directors in May 2024.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:22 am

OTIS

Otis reported a mixed Q1 performance with a 10% decline in new equipment orders and a 2% decrease in backlog, while net sales rose by 2.7% and organic sales by 3.8%, driven by a 5.8% increase in Service net sales. GAAP EPS grew by 8.9%, and adjusted EPS by 10%, with operating profit margins expanding. The company also saw a 13% increase in Mod orders and a 14% increase in backlog. Otis updated its full-year outlook, raising its adjusted EPS forecast to $3.83-$3.90 and its share repurchase target to $1 billion.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 10:08 am