Streetbeat News

Dividends

ASAN

BCAN

CLRO

RGLS

SPPL

Asana, Inc. (ASAN) shares fell by 11% following soft FY25 revenue guidance, despite beating quarterly earnings and sales estimates. Other stocks showed significant movement, with ClearOne, Inc. (CLRO) and Regulus Therapeutics Inc. (RGLS) among the top gainers, while BYND Cannasoft Enterprises Inc. (BCAN) and Simpple Ltd. (SPPL) led the losers. The market saw a mix of positive and negative financial results, strategic moves, and guidance updates.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 6:07 pm

PBR

Petrobras Brasileiro (NYSE:PBR) decided to withhold a proposed extra dividend, initially set at 50% of a potential 44 billion reais ($8.8 billion), following a vote by government-appointed board members. This decision, which surprised investors expecting an extraordinary dividend of $3 billion or more, is now under reconsideration for future disbursement. Brazilian President Luiz Inacio Lula da Silva's government is also planning to revise reserve rules for reinvestment purposes. Despite this, Petrobras reported sales of $27.11 billion, slightly beating consensus but with earnings per ADS missing expectations. PBR shares rose 2.13% to $14.87.

Portfolio Pulse from Lekha Gupta

March 12, 2024 | 4:16 pm

BCAN

BLDE

CLRO

NRXP

PACK

RGLS

Nasdaq Composite gained around 1% amid positive U.S. stock market movements. ClearOne, Inc. announced a special cash dividend, causing shares to surge 120%. Regulus Therapeutics and Ranpak Holdings also saw significant gains following positive announcements. Conversely, BYND Cannasoft, Blade Air Mobility, and NRx Pharmaceuticals experienced sharp declines due to various negative developments. The U.S. consumer price index for February 2024 indicated higher-than-expected inflation rates.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 4:10 pm

CLRO

ClearOne, Inc. (NASDAQ:CLRO) announced a one-time special cash dividend of 50 cents per share, payable on April 10 to shareholders of record as of April 2. The dividend represents over 25% of the company's common stock value, prompting a significant price increase. CEO Derek Graham expressed confidence in the company's future growth and profitability. ClearOne's stock price surged 115% to $1.94 following the announcement.

Portfolio Pulse from Erica Kollmann

March 12, 2024 | 3:53 pm

LNC

PRI

Primerica (NYSE:PRI) announces a dividend payout of $0.75 per share with an annualized yield of 1.29%. The company has shown a positive trend in dividend per share from $1.60 in 2020 to $2.60 in 2023 and an increase in earnings per share from $9.49 in 2020 to $15.25 in 2023, indicating strong financial health. Lincoln National (NYSE:LNC) leads the industry with a 6.62% dividend yield.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 3:05 pm

BGFV

TSCO

Tractor Supply (NASDAQ:TSCO) announces a dividend payout of $1.10 per share with an annualized yield of 1.91%, marking a consistent increase in dividends from $1.50 in 2020 to $4.12 in 2023. The company's earnings per share also grew from $6.44 in 2020 to $10.24 in 2023, indicating strong financial health and potential for future dividend growth. Big 5 Sporting Goods (NASDAQ:BGFV) leads in dividend yield among industry peers with 17.67%.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 3:05 pm

GHI

RDN

Radian Group (NYSE:RDN) is distributing a dividend of $0.24 per share today, with an annualized yield of 3.51%. The company has shown a consistent increase in dividends per share from $0.50 in 2020 to $0.90 in 2023, alongside earnings growth from $1.89 to $3.98 per share over the same period. This trend underscores Radian Group's strong financial health and commitment to enhancing shareholder value. The dividend yield is mid-range compared to industry peers, with Greystone Housing Impact (NYSE:GHI) having the highest yield at 8.82%.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 3:05 pm

LOB

NYCB

Live Oak Bancshares (NYSE:LOB) announced a dividend payout of $0.03 per share with an annualized yield of 0.30%, going ex-dividend on February 26, 2024. Despite a consistent dividend per share since 2020, the company's earnings per share have grown from $0.88 in 2020 to $1.32 in 2023, indicating financial health and potential for future dividend increases. However, its dividend yield is lower compared to industry peers like New York Community (NYSE:NYCB), which has a yield of 6.15%.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 3:05 pm

IEP

MMM

3M (NYSE:MMM) announced a dividend payout of $1.51 per share with an annualized yield of 6.51%, payable on March 12, 2024, to shareholders of record as of February 16, 2024. The company has shown a positive trend in dividend growth from $5.88 in 2020 to $6.00 in 2023, alongside an increase in earnings per share from $8.52 to $9.10 over the same period. This suggests a strong financial health and a commitment to returning value to shareholders. 3M's dividend yield is in the middle range when compared to its industry peers, with Icahn Enterprises (NASDAQ:IEP) having the highest yield at 22.98%.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 3:05 pm

OXY

XOM

Saudi Aramco and ADNOC are venturing into lithium production from brine in their oilfields to diversify and meet the growing demand for EVs, similar to Exxon Mobil's efforts in Arkansas. Despite a profit decline, Aramco increased its dividend payout. The long-term prospects for lithium remain promising despite recent price drops. Gulf companies are exploring eco-friendly Direct Lithium Extraction (DLE) technologies, avoiding traditional, environmentally harmful methods. Exxon Mobil and Occidental Petroleum are also investigating DLE technologies.

Portfolio Pulse from Stjepan Kalinic

March 12, 2024 | 3:00 pm