Streetbeat News

Dividends

MFC

Manulife Financial's stock is trading higher following the announcement of better-than-expected Q4 adjusted EPS results and an increase in its common share dividend.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:55 pm

AMD

AVGO

MSFT

NVDA

TSMWF

The AI 5, coined by Light Street Capital's Glen Kacher, highlights Nvidia, Microsoft, AMD, TSMC, and Broadcom as leading stocks in the AI-driven market. Nvidia excels in GPUs for AI, Microsoft invests heavily in AI with OpenAI, AMD introduces the MI300X chip for AI computations, TSMC leads in semiconductor manufacturing with advanced technologies, and Broadcom's semiconductor solutions support AI applications. Warren Buffett has invested in Apple and Amazon, part of The Magnificent Seven, but not directly in AI 5 stocks.

Portfolio Pulse from Stjepan Kalinic

February 15, 2024 | 5:19 pm

ARCH

Arch Resources Inc (NYSE:ARCH) shares fell after reporting mixed Q4 results. Revenue was $774.0 million, down from $859.5 million YOY but above consensus. Adjusted EBITDA and EPS missed expectations. The company saw a decrease in coking coal sales volume and announced a quarterly cash dividend of $1.65 per share. It also repurchased $3.0 million in shares, with $217.7 million remaining under its repurchase program. The outlook for 2024 includes an increase in coking coal production and solid contributions from thermal assets.

Portfolio Pulse from Lekha Gupta

February 15, 2024 | 5:17 pm

WEN

Wendy's Co (NASDAQ:WEN) reported Q4 FY23 results with a slight sales growth of 0.8% to $540.7 million, missing analyst estimates. Adjusted EPS of $0.21 also fell short of expectations. Despite challenges, the company saw digital sales acceleration and global expansion, opening nearly 250 new restaurants. The company expects FY24 adjusted EPS of $0.98-$1.02, below consensus estimates, and projects 5%-7% global systemwide sales growth. Shares dropped 2.05% to $18.89.

Portfolio Pulse from Lekha Gupta

February 15, 2024 | 5:01 pm

SCI

Service Corporation International (NYSE:SCI), North America's largest deathcare service provider, has increased its quarterly cash dividend from $0.29 to $0.30 per share, a 3.4% rise. The new dividend is payable on March 28, 2024, to shareholders of record as of March 15, 2024. The company aims to continue paying regular quarterly dividends, subject to Board approval each quarter based on financial performance.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 4:45 pm

DINO

HF Sinclair has announced an increase in its regular cash dividend from $0.45 to $0.50, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 3:43 pm

CSCO

Cisco Systems Inc (NASDAQ:CSCO) shares dropped in premarket trading after the company announced lower-than-expected Q3 and FY24 guidance and a 5% workforce reduction. Despite beating Q2 EPS and sales estimates, Cisco's future revenue and EPS forecasts fall below analyst expectations. The company also plans to incur about $800 million in pre-tax charges due to the layoffs but raised its quarterly dividend by 3%.

Portfolio Pulse from Lekha Gupta

February 15, 2024 | 3:27 pm

BMRC

FISI

Bank of Marin (NASDAQ:BMRC) announced a dividend payout of $0.25 per share with an annualized yield of 4.84%. The dividend is part of a consistent pattern of payouts, with an increase in dividend per share from $0.92 in 2020 to $1.00 in 2023. However, the company's earnings per share have decreased from $2.20 in 2020 to $2.01 in 2023, raising concerns about future dividend sustainability. Bank of Marin's dividend yield is in the middle range compared to its industry peers, with Financial Institutions (NASDAQ:FISI) having the highest yield at 6.39%.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 3:05 pm

SSBI

TBNK

Summit State Bank (NASDAQ:SSBI) announced a dividend payout of $0.12 per share with an annualized yield of 4.03%, payable on February 15, 2024, to shareholders of record as of February 8, 2024. The bank has shown consistent dividend growth from $0.44 in 2020 to $0.48 in 2023 and an increase in earnings per share from $1.42 in 2020 to $2.02 in 2023, indicating strong financial health and potential for future dividend increases. Territorial Bancorp (NASDAQ:TBNK) is mentioned as having the highest annualized dividend yield among peers at 6.23%.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 3:05 pm

EGBN

LBAI

Lakeland Bancorp (NASDAQ:LBAI) announced a dividend payout of $0.14 per share with an annualized yield of 4.00%. The company has shown a positive trend in both dividend per share and earnings per share from 2020 to 2023, indicating financial health and potential for continued profit distribution to shareholders. Eagle Bancorp (NASDAQ:EGBN) has the highest annualized dividend yield among peers at 7.64%.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 3:05 pm