Streetbeat News

Dividends

GRMN

Garmin Ltd (NYSE:GRMN) stock rose after reporting Q4 results with revenue growth of 13% Y/Y to $1.48 billion, surpassing the consensus of $1.42 billion. Proforma EPS was $1.72, beating the consensus of $1.40. The company saw growth in Fitness, Outdoor, and Marine segments, while Aviation declined. Garmin announced a dividend of $3.00 per share and authorized a $300 million share repurchase. FY24 revenue is expected to be $5.75 billion, above consensus, but projected EPS of $5.40 is below consensus. GRMN shares were up 5% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 21, 2024 | 2:23 pm

AEP

IEP

JBLU

Icahn Enterprises L.P. (IEP) announced management changes, including Andrew Teno as CEO and David Willetts as CEO of Pep Boys. IEP reported an estimated indicative Net Asset Value of $4.76 billion as of year-end 2023 and maintained a quarterly distribution of $1.00 per depositary unit. The company highlighted its activist investment strategy's success, comparing its depositary units' growth to major indices since 2000. IEP also mentioned its positions in American Electric Power Company, Inc. (AEP) and JetBlue Airways Corp. (JBLU) and its intention to declare a $1.00 per depositary unit distribution for Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:08 pm

CSPI

CSP Inc. has announced a 2-for-1 stock split in the form of a 100% stock dividend. Additionally, the company has increased its quarterly cash dividend to $0.05 per share on a pre-split basis, payable on March 08, 2024, to shareholders of record as of February 26, 2024. Future dividends will be adjusted according to the stock split.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:37 pm

IFF

IFF shares dropped following mixed Q4 financial results and a significant reduction in its expected quarterly dividend, cutting it by about 50% to $0.40 per share.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:36 pm

IFF

International Flavors & Fragrances Inc (IFF) shares dropped premarket after reporting mixed Q4 FY23 results and announcing a dividend cut. Revenue slightly exceeded expectations, but adjusted EPS fell short. The company plans to halve its quarterly dividend to improve financial flexibility. FY24 outlook anticipates modest volume growth amid macroeconomic uncertainty, with sales projections below consensus. IFF also announced a new CEO, J. Erik Fyrwald.

Portfolio Pulse from Lekha Gupta

February 21, 2024 | 1:22 pm

CPT

FRT

VTR

Wall Street's most accurate analysts have provided updates on three real estate stocks with over 4% dividend yields: Camden Property Trust (CPT), Ventas, Inc. (VTR), and Federal Realty Investment Trust (FRT). CPT and VTR received mixed reviews but had positive recent news, while FRT had a downgrade due to weaker-than-expected sales.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 1:15 pm

NVDA

NVIDIA Corporation (NASDAQ:NVDA) is anticipated to release its Q4 earnings on Feb. 21, 2024, with expected earnings of $4.64 per share and revenue of $20.62 billion, significantly up from the previous year. Ahead of this, NVDA's stock dropped by 6.7%, potentially due to profit-taking. The article also explores how to generate a monthly income of $500 from Nvidia's dividends, requiring ownership of approximately 37,500 shares.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 1:05 pm

AGO

Assured Guaranty Ltd. has announced an 11% increase in its quarterly dividend, raising it to $0.31 per common share.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 12:32 pm

GRMN

Garmin's shares surged following the announcement of its Q4 financial results, with FY24 revenue guidance surpassing expectations. The company also plans to increase its annual dividend and has authorized a share buyback program.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 12:30 pm

HSBC

HSBC Holdings PLC (NYSE:HSBC) shares dropped in premarket trading after reporting a decline in fourth-quarter revenue by 11% year-over-year to $13.021 billion, with net interest income (NII) falling 7% to $8.28 billion. The decline was attributed to notable items totaling $(2.7) billion. Despite the quarterly decline, FY23 saw a revenue increase of over 30% to $66.1 billion, with a significant rise in profit before tax to $30.3 billion, although below analysts' expectations. The bank also announced a new share buyback of up to $2.0 billion and a fourth interim dividend of $0.31 per share, with a total 2023 dividend of $0.61 per share. HSBC expects NII of at least $41 billion and a return on tangible equity in the mid-teens for 2024.

Portfolio Pulse from Lekha Gupta

February 21, 2024 | 12:26 pm