Streetbeat News

Dividends

SLB

Schlumberger N.V. (NYSE:SLB) reported a 13% year-over-year increase in Q1 2024 revenue to $8.707 billion, surpassing consensus estimates. Adjusted EPS rose 19% Y/Y to 75 cents, meeting expectations. The company saw growth across all segments, with a notable 18% increase in international revenue. Despite a 6% decline in North American market revenue, CEO Olivier Le Peuch remains optimistic about global revenue growth, particularly with the contribution from the ChampionX acquisition. SLB announced a quarterly dividend of 27.5 cents per share. Following the earnings announcement, several analysts revised their price targets for SLB, with most maintaining a positive outlook but slightly lowering their targets.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 5:48 pm

SO

Southern Company announced an increase in its quarterly dividend from $0.70 to $0.72 per share, with an annualized rate now at $2.88 per share. This marks the 76th consecutive year of paying dividends equal to or greater than the previous quarter and the 23rd consecutive year of dividend increases. The next dividend is payable on June 6, 2024, to shareholders of record as of May 20, 2024. CEO Christoper C. Womack highlighted the company's commitment to providing value through regular, predictable, and sustainable dividend growth.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 3:49 pm

CALM

KHC

PM

Wall Street's most accurate analysts have provided updates on three high-dividend yielding stocks in the consumer staples sector: Cal-Maine Foods, Inc. (CALM), Philip Morris International Inc. (PM), and The Kraft Heinz Company (KHC). These updates include ratings and price target adjustments, reflecting the analysts' views on the stocks' future performance. Additionally, recent news for each company is highlighted, such as executive retirements and upcoming earnings reports.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 12:56 pm

AZZ

AZZ Inc. (NYSE:AZZ) is set to release its Q4 earnings on April 22, 2024, with analysts expecting a decrease in EPS from the previous year but an increase in revenue. The company has raised its FY25 guidance due to strong market performance. AZZ offers a dividend yield of 0.91%, and calculations show the number of shares needed to earn $500 or $100 monthly from dividends. The stock price recently fell by 0.9% to $74.80.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 12:22 pm

POR

Portland General Electric (POR) announced an increase in its quarterly dividend to $0.50/share, up from $0.475/share last quarter, payable on July 15, 2024, to shareholders of record as of June 24, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 7:52 am

KMI

Kinder Morgan's stock is trading higher following the announcement of its Q1 earnings and an increase in its quarterly dividend.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 7:30 pm

VALU

Value Line, Inc. (NASDAQ: VALU) has increased its quarterly cash dividend from $0.28 to $0.30 per common share, marking the tenth consecutive year of dividend increases. The new dividend will be payable on May 10, 2024, to shareholders of record as of April 29, 2024. This adjustment elevates the annual dividend to $1.20 per share, with 9,422,983 shares of common stock outstanding as of April 19, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 7:25 pm

DGIN

EDOG

WIT

Wipro Ltd (NYSE:WIT) reported Q4 results with gross revenue of $2.67 billion, surpassing the $2.65 billion consensus, and an EPS of 7 cents, aligning with expectations. Despite a 6.4% Y/Y decline in IT Services revenue, the company anticipates steady growth, projecting Q1 IT Services revenue between $2.617 billion and $2.670 billion. Wipro's stock rose 3.5% following the announcement, and it is also accessible through VanEck Digital India ETF (NYSE:DGIN) and ALPS Emerging Sector Dividend Dogs ETF (NYSE:EDOG).

Portfolio Pulse from Anusuya Lahiri

April 19, 2024 | 2:17 pm

SLB

Schlumberger N.V. (NYSE:SLB) reported a 13% year-over-year revenue increase to $8.707 billion for Q1 2024, surpassing expectations. The growth was significantly driven by the Aker subsea business from the OneSubsea joint venture. Despite a 6% decline in North American revenue, international markets saw robust growth, particularly in the Middle East & Asia and Europe & Africa. Adjusted EPS matched consensus at $0.75, with adjusted EBITDA up 15% Y/Y. SLB announced a quarterly dividend and plans to return $7 billion to shareholders over the next two years, buoyed by confidence in global revenue growth and the ChampionX acquisition.

Portfolio Pulse from Akanksha Bakshi

April 19, 2024 | 1:36 pm

BX

Blackstone Inc (NYSE:BX) reported Q1 FY24 earnings with adjusted revenues of $2.55 billion, surpassing the consensus of $2.49 billion. Distributable earnings rose 1% Y/Y to $1.27 billion, with earnings per share of $0.98 beating the consensus of $0.97. Assets under management increased by 7% Y/Y to $1.06 trillion. The company declared a quarterly dividend of 83 cents per share. Despite the positive earnings, Blackstone shares fell 2.3% to close at $120.32. Post-earnings, JP Morgan and Barclays adjusted their price targets on Blackstone to $100 and $125, respectively.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 1:18 pm