Streetbeat News

Dividends

FEN

First Trust Energy Income And Growth Fund (FEN) has announced an increase in its quarterly distribution from $0.30 to $0.40 per share, payable on April 30, 2024, to shareholders of record as of April 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 9:30 pm

COST

Costco Wholesale Corporation (NASDAQ:COST) reported a 9.4% year-over-year increase in net sales for March, totaling $23.48 billion, and a 6.4% increase for the first 31 weeks of the year, reaching $146.64 billion. Comparable sales rose by 7.7%, with e-commerce sales surging 28.3%. The company also raised its quarterly dividend from $1.02 to $1.16 per share. Following the news, COST shares saw a slight increase in after-hours trading.

Portfolio Pulse from Adam Eckert

April 10, 2024 | 8:39 pm

COST

Costco Wholesale has increased its quarterly dividend from $1.02 to $1.16 per share, payable on May 10, 2024, to shareholders of record as of April 26, 2024. This adjustment brings the annualized dividend to $4.64.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:21 pm

NVGS

Navigator Gas (NYSE:NVGS) is focusing on growth opportunities in ammonia and CO2 transportation, leveraging its fleet's flexibility and expanding its ethylene export terminal. The company's strong financial performance is attributed to high demand across its product segments and operational efficiency. NVGS's strategic investments, including a 14.5% interest in Azane Fuel Solutions, aim to capitalize on the shipping industry's shift to low-carbon fuels. With record operating revenue and net income in Q4 2023, NVGS is committed to returning capital to shareholders through dividends and share repurchases, while planning for long-term growth by exploring further opportunities in green transition segments.

Portfolio Pulse from Capital Link

April 10, 2024 | 6:21 pm

CVX

HES

XOM

Chevron Corp's CEO Michael Wirth's pay increased to $26.5 million in 2023, a 12% rise from the previous year, outpacing the median pay raise for employees. The increase is attributed to successful financial management and the proposed acquisition of Hess Corp. Chevron's executive compensation and shareholder returns, including a record $26.3 billion through dividends and buybacks, are highlighted amidst scrutiny from Exxon Mobil Corp over the Hess acquisition.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 5:23 pm

AEE

AWK

BIP

CNP

DTE

DUK

EBR

FTS

NEE

WEC

Utilities stocks are trading lower due to a rise in yields following hotter-than-expected March inflation data, which could pressure dividend-paying sectors.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 4:04 pm

SVNDF

SVNDY

Seven & I Holdings Co., Ltd. is considering a potential listing of its Ito-Yokado segment to focus on expanding its 7-Eleven franchise. The company aims to create a globally integrated CVS management structure and refine its Superstore business for re-growth. This move comes after pressure from ValueAct Capital Management for structural reform and valuation improvement, including potential store closures. Despite a slight decline in net sales, Seven & I reported a 5.5% increase in operating profit in its latest fiscal year. The company also plans share buybacks and a stock split, although its outlook slightly trails analysts' projections.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 3:18 pm

Citigroup Inc. (NYSE:C) is anticipated to release its Q1 earnings on April 12, 2024, with expected earnings of $1.20 per share, down from $2.19 the previous year, and projected revenue of $20.40 billion, up from $19.99 billion. The company recently announced a $2.75 billion redemption of notes due 2025. Citigroup offers a 3.44% annual dividend yield, equating to 53 cents per share quarterly. To earn $500 monthly from dividends, an investment of approximately $174,498 or 2,830 shares is needed.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 12:49 pm

PSCC

PSMT

XRT

PriceSmart, Inc. (NASDAQ:PSMT) reported strong Q2 FY24 results with a 13.1% Y/Y revenue increase to $1.29 billion, surpassing consensus estimates. Net merchandise sales rose 13.0% Y/Y to $1.26 billion. The company also announced a $1.00 per share special dividend payable on April 30, 2024. Investors can also gain exposure to PSMT through Invesco S&P SmallCap Consumer Staples ETF (NASDAQ:PSCC) and SPDR S&P Retail ETF (NYSE:XRT). PSMT shares are up 1.97% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 10, 2024 | 12:48 pm

MAIN

NYCB

STWD

Wall Street's most accurate analysts have provided updates on three financial stocks with over 6% dividend yields: Main Street Capital Corporation (MAIN), New York Community Bancorp, Inc. (NYCB), and Starwood Property Trust, Inc. (STWD). MAIN received a price target increase from both Truist Securities and RBC Capital following upbeat quarterly earnings. NYCB was downgraded by Raymond James and had its price target cut by Keefe, Bruyette & Woods after announcing a significant equity investment. STWD maintained positive ratings from Wells Fargo and JP Morgan, with both analysts raising their price targets ahead of its Q1 2024 financial results release.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 12:13 pm