Streetbeat News

Dividends

NEM

Newmont (NYSE:NEM) plans to sell assets to reduce its $8 billion debt, following the acquisition of Newcrest. The company aims to focus on tier-one assets in favorable mining jurisdictions and expects to lower debt by $1 billion short term and achieve $100 million in free cash flow by integrating Newmont and Newcrest. Despite a 6.9% drop in gold production in 2023 and various charges, Newmont reported higher gold reserves and a commitment to dividends, with a goal to improve gold production to 6.7 million ounces by 2028.

Portfolio Pulse from Stjepan Kalinic

February 23, 2024 | 4:13 pm

ALL

Allstate has announced an increase in its quarterly dividends from $0.89 to $0.92, indicating a positive outlook on its financial health and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 3:20 pm

SBFG

TBNK

SB Finl Gr (NASDAQ:SBFG) is maintaining its dividend payout of $0.14 per share, with an annualized yield of 3.59%, despite a decrease in earnings from $1.97 in 2020 to $1.68 in 2023. The company's dividend per share has seen an upward trend from $0.38 in 2020 to $0.52 in 2023, indicating a commitment to shareholder value. Territorial Bancorp (NASDAQ:TBNK) is mentioned as having the highest annualized dividend yield among peers at 6.18%.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 3:05 pm

FISI

FRST

Primis Finl (NASDAQ:FRST) maintains a consistent dividend payout of $0.10 per share, resulting in a 3.17% annualized yield as of February 23, 2024. Despite a stable dividend since 2020, Primis Finl's earnings per share have declined from $1.13 in 2020 to $0.71 in 2023, raising concerns about the sustainability of future dividends. The company's dividend yield is mid-range compared to peers, with Financial Institutions (NASDAQ:FISI) leading at 6.48% yield.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 3:05 pm

PFS

SASR

Provident Financial Services (NYSE:PFS) announces a dividend payout of $0.24 per share with a 5.47% yield for shareholders on record as of February 8, 2024. The company has shown a consistent increase in dividends from $0.92 in 2020 to $0.96 in 2023, alongside earnings growth from $1.25 to $2.01 per share over the same period. This suggests a strong financial health and potential for continued profit distribution. Sandy Spring Bancorp (NASDAQ:SASR) is mentioned for having the highest annualized dividend yield at 6.21% among peers.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 3:05 pm

CWT

WTRG

California Water Servs Gr (CWT) is set to distribute a dividend of $0.26 per share on February 23, 2024, with an annualized yield of 2.29%. The company has shown a steady increase in dividend per share from 2020 to 2023, despite a decrease in earnings per share over the same period. This suggests CWT is prioritizing shareholder returns through dividends amidst challenges in earnings growth. Essential Utilities (WTRG) is noted for having the highest annualized dividend yield at 3.40% among industry peers.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 3:05 pm

PNFP

TFC

Pinnacle Financial Partners (NASDAQ:PNFP) is set to distribute a dividend of $0.22 per share on February 23, 2024, with an annualized yield of 1.04%. The company has shown a positive trend in both dividend per share and earnings per share from 2020 to 2023, indicating a strong financial health and a commitment to increasing shareholder dividends. However, its dividend yield is lower compared to industry peer Truist Financial (NYSE:TFC), which has a yield of 5.84%.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 3:05 pm

GLCNF

TECK

Teck Resources Ltd (NYSE:TECK) exceeded Q4 2023 earnings estimates with record copper production and strong steelmaking coal sales, driven by higher copper prices. The company announced progress on the sale of its coal unit to Glencore PLC (OTCPK: GLCNF) for $9 billion, expected to close by Q3 2024. Teck also declared a dividend and authorized a stock buyback of up to $500 million.

Portfolio Pulse from Stjepan Kalinic

February 23, 2024 | 2:54 pm

CGNX

Cognex (NASDAQ:CGNX) announced a quarterly dividend of 7.5 cents per share, with the ex-dividend date set for Wednesday. Shareholders owning CGNX by the end of Tuesday's session are eligible for the dividend, payable on March 14, 2024.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 2:45 pm

PBF

PBF Energy (NYSE:PBF) announced a quarterly dividend of 25 cents per share, with the ex-dividend date set for Wednesday. Shareholders owning the stock by the end of Tuesday are eligible for the payout, which will be distributed on March 14, 2024. The stock is expected to open 25 cents lower on the ex-dividend date.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 2:45 pm