Streetbeat News

Dividends

HWM

Howmet Aerospace Inc (NYSE:HWM) shares rose after reporting strong Q4 FY23 results, with a 14% Y/Y revenue increase to $1.73 billion, surpassing the $1.65 billion consensus. Adjusted EPS grew 39% Y/Y to $0.53, beating the $0.47 consensus. The company also highlighted a positive outlook for FY24, expecting revenue between $7.00 billion and $7.20 billion and adjusted EPS of $2.10-$2.20. Howmet's optimistic outlook is supported by strong commercial aerospace demand and record backlogs at aircraft OEMs.

Portfolio Pulse from Lekha Gupta

February 13, 2024 | 5:16 pm

PEG

Public Service Enterprise Group (PSEG) has increased its quarterly stock dividend from $0.57 to $0.60 per share, marking the 13th consecutive annual increase and extending its dividend-paying track record to 117 years. The new indicative annual dividend rate is $2.40 per share, with the next dividend payable by March 29, 2024, to shareholders of record as of March 8, 2024. This decision underscores PSEG's commitment to providing consistent and sustainable dividend growth for its shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 5:15 pm

LIAN

LianBio has decided to wind down operations, including selling its pipeline assets, delisting its ADS, and reducing its workforce. Additionally, the company announced a $4.80 special dividend.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 4:43 pm

FANG

Diamondback Energy Inc (NASDAQ:FANG) announced a merger with Endeavor Energy Resources for about $26 billion, including debt. The deal includes stock and cash, with expected annual synergies of $550 million and a 10% free cash flow per share accretion by 2025. Following this, Diamondback's board raised its base dividend by 7%. Analysts from Keybanc, BMO Capital, Scotiabank, and Susquehanna have subsequently raised their price targets for Diamondback.

Portfolio Pulse from Avi Kapoor

February 13, 2024 | 4:39 pm

AROC

USAC

Archrock (NYSE:AROC) announced a dividend payout of $0.17 per share with an annualized yield of 4.16%, payable on February 13, 2024, to shareholders of record as of February 5, 2024. The company's dividend per share has seen an average increase from $0.58 in 2020 to $0.61 in 2023, despite a decrease in earnings per share from $1.04 in 2020 to $0.53 in 2023. This suggests Archrock is prioritizing returns to shareholders amidst declining profitability. USA Compression Partners (NYSE:USAC) is noted for having the highest annualized dividend yield among peers at 8.79%.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:05 pm

NS

TRMD

NuStar Energy (NYSE:NS) announced a dividend payout of $0.40 per share with an annualized yield of 7.66%, payable on February 13, 2024, to shareholders of record as of February 7, 2024. The company's dividend per share has decreased from $1.80 in 2020 to $1.60 in 2023, despite an increase in earnings per share from $0.81 to $0.87 over the same period. This suggests a strategic shift towards retaining earnings for reinvestment. TORM (NASDAQ:TRMD) has the highest annualized dividend yield among peers at 16.96%.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:05 pm

TRMD

WES

Western Midstream (NYSE:WES) announces a dividend payout of $0.57 per share with an annualized yield of 8.28%, reflecting its strong performance and commitment to maximizing shareholder returns. The company has shown a consistent increase in dividends and earnings per share from 2020 to 2023, indicating a healthy financial status. TORM (NASDAQ:TRMD) is mentioned for having the highest annualized dividend yield at 16.96% among industry peers.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:05 pm

SPH

Suburban Propane Partners (NYSE:SPH) announced a dividend payout of $0.33 per share with an annualized yield of 7.02%. Despite a decrease in dividend per share from $1.80 in 2020 to $1.30 in 2023, the company's earnings per share have grown from $0.96 to $1.92 over the same period. This suggests a strategic focus on reinvesting profits rather than increasing dividends, indicating financial health and potential for future growth.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:05 pm

CPLP

DSX

Capital Product Partners (NASDAQ:CPLP) announced a dividend payout of $0.15 per share with an annualized yield of 3.37%. Despite a decrease in dividend per share from $0.90 in 2020 to $0.60 in 2023, the company has shown positive earnings growth, from $1.53 to $3.11 per share over the same period. This suggests a strategic shift towards reinvesting profits for expansion rather than higher dividend payouts. Diana Shipping (NYSE:DSX) is mentioned for comparison with the highest annualized dividend yield of 20.27% in the industry.

Portfolio Pulse from Benzinga Insights

February 13, 2024 | 3:05 pm

QSR

Restaurant Brands International Inc. (NYSE:QSR) reported Q4 earnings surpassing analyst expectations with adjusted EPS of 75 cents against a consensus of 73 cents, and revenues of $1.820 billion versus $1.808 billion expected. Global sales grew nearly 10%, with notable growth in Tim Hortons Canada and Burger King US. Operating income and adjusted EBITDA also saw increases from the previous year. Despite these positive results, QSR shares dropped 4.52% to $74.68. The company declared a dividend of $0.58 per share, payable on April 4, 2024.

Portfolio Pulse from Nabaparna Bhattacharya

February 13, 2024 | 3:02 pm