Streetbeat News

Dividends

SUI

Sun Communities announced a 1.1% increase in its annual distribution from $3.72 to $3.76 per share, starting with the first quarter distribution in April 2024. The Board of Directors will approve the amount of each quarterly distribution.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 10:33 pm

ENLC

EnLink CEO Jesse Arenivas announced a commitment to return capital to investors in 2024, including raising the Q4 2023 distribution and initiating a $200M unit repurchase for the third consecutive year.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 10:11 pm

CMC

FMST

NUE

ZKIN

Nucor Corporation announced a quarterly dividend of $0.54 per share. Commercial Metals Company added Dennis V. Arriola to its Board. ZK International completed a $2 million investment from CF Fund. Foremost Lithium joined Webull's CCS platform for better shareholder communication. Sayona Mining revealed a feasibility study for its Moblan Lithium Project with promising financials.

Portfolio Pulse from Austin DeNoce

February 20, 2024 | 10:00 pm

FANG

Diamondback Energy, Inc. (NASDAQ:FANG) reported Q4 earnings surpassing analyst expectations with adjusted earnings of $4.74 per share and quarterly sales of $2.23 billion. The company also exceeded its production guidance and announced significant returns to stockholders including dividends and share repurchases. Diamondback expects full-year 2024 oil production of between 270 and 275 MBO/D and capital expenditures of between $2.3 billion and $2.55 billion.

Portfolio Pulse from Erica Kollmann

February 20, 2024 | 9:57 pm

IFF

IFF shares are trading lower following the announcement of mixed Q4 financial results and a significant reduction in its expected quarterly dividend, which has been cut by approximately 50% to $0.40 per share.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:46 pm

IFF

International Flavors & Fragrances (IFF) announced a significant reduction in its expected quarterly dividend, cutting it by approximately 50% to $0.40 per share. This adjustment reflects a new dividend policy set by the company's Board of Directors and management team. The revised dividend will be payable on April 10, 2024, to shareholders of record as of March 22, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:28 pm

FLS

Flowserve Corp announced a 5% increase in its quarterly cash dividend to $0.21 per share and replenished its total stock repurchase authorization to $300 million. The dividend is payable on April 12, 2024, to shareholders of record as of March 28, 2024. The company's board will review future dividends individually.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:13 pm

DVA

FMS

Fresenius Medical Care AG (NYSE:FMS) reported Q4 2023 revenue of €4.9 billion, nearly matching consensus estimates and showing flat year-over-year growth. Adjusted EPS increased by 4% to €0.88, surpassing consensus. The company treated 332,548 patients in 3,925 clinics worldwide and proposed a 6% dividend increase. For 2024, it expects low- to mid-single-digit revenue growth and mid- to high-teens operating income growth. Fresenius forecasts 0.5%-2% patient volume growth, slightly lower than DaVita Inc's (NYSE:DVA) 1%-2% expectations. FMS shares dropped 2.96% to $20.49.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 6:17 pm

VC

Visteon Corporation (NASDAQ:VC) reported a 7% decrease in Q4 sales year over year, missing analyst expectations with $990 million in revenue against a forecast of $1.049 billion. Despite the sales dip, adjusted EBITDA rose to $117 million, reflecting strong operational performance and cost discipline. The company missed adjusted EPS estimates, reporting $1.91 against an expected $2.09. Visteon also announced a $106 million share repurchase under a $300 million authorization. For FY24, Visteon forecasts net sales between $4 billion and $4.2 billion, below the $4.3 billion estimate, with adjusted EBITDA between $470 million and $500 million.

Portfolio Pulse from Nabaparna Bhattacharya

February 20, 2024 | 5:21 pm

FSS

Federal Signal Corporation (NYSE:FSS) has increased its quarterly dividend from $0.10 to $0.12 per share, a 20% increase. The dividend is payable on March 28, 2024, to stockholders of record as of March 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:07 pm