Streetbeat News

Dividends

IVT

InvenTrust Properties has announced a 5% increase in its cash distribution, from $0.2155 to $0.226 per share, payable on or about April 15, 2024, to stockholders of record as of March 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 9:28 pm

TOL

Toll Brothers announced a 10% increase in its quarterly cash dividend, raising it from $0.21 to $0.23 per share, payable on April 19, 2024, to shareholders of record as of April 5, 2024. This marks the fourth consecutive year of dividend increases.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 8:35 pm

IGIC

International General Insurance Holdings Ltd. (IGI), under the ticker IGIC, announced a special cash dividend of $0.50 per common share for Q4 2023 and a regular quarterly dividend of $0.01 per share. The total dividend of $0.51 is payable on April 22, 2024, to shareholders of record as of April 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 8:22 pm

BCAN

BLDE

CLRO

CRBU

PACK

RGLS

U.S. stocks traded higher with the S&P 500, Dow, and NASDAQ all posting gains. ClearOne, Inc. announced a special one-time cash dividend, causing its shares to surge 114%. Regulus Therapeutics and Ranpak Holdings also saw significant increases in their stock prices following positive news. Conversely, BYND Cannasoft, Blade Air Mobility, and Caribou Biosciences experienced sharp declines. The U.S. consumer price index for February exceeded expectations, indicating higher inflation than anticipated.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 6:57 pm

PHIN

Morgan Stanley analyst Adam Jonas initiated coverage on Phinia Inc (NYSE:PHIN) with an Overweight rating and a $50 price target, citing the company as a 'cash gushing machine' despite the gloomy EV market. Jonas highlights Phinia's strong financials, including stable top-line, above-peer margins, minimal leverage, and forecasts over $200 million in free cash flow starting in 2025, with the majority being returned to shareholders through dividends and buybacks. He also notes a low China exposure and estimates significant EPS growth from FY24 through FY26.

Portfolio Pulse from Lekha Gupta

March 12, 2024 | 6:47 pm

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