Streetbeat News

Dividends

JKHY

Jack Henry & Associates, Inc. (NASDAQ:JKHY) has announced a 6% increase in its quarterly dividend to $0.55 per share, payable on March 26, 2024, to stockholders of record as of March 8, 2024. This marks the 20th consecutive year of dividend increases.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 1:07 pm

FANG

Diamondback Energy Inc (NASDAQ:FANG) announced a merger with Endeavor Energy Resources for about $26 billion, including Endeavor's net debt. The deal involves 117.3 million Diamondback shares and $8 billion in cash. It's expected to create a leading Permian operator with significant production and inventory depth. The merger, expected to close in Q4 2024, aims for $550 million in annual synergies and a 10% free cash flow per share accretion in 2025. Diamondback also plans to raise its dividend and has adjusted its capital return strategy post-merger.

Portfolio Pulse from Lekha Gupta

February 12, 2024 | 12:49 pm

FANG

Diamondback Energy announced a 7% increase in its base dividend to $3.60 per share annually, effective for Q4 of 2023. This adjustment will result in a quarterly dividend of $0.90 per share.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:34 pm

DIS

PLTR

PYPL

TSLA

Benzinga's analysis highlights the S&P 500 and Nasdaq 100's positive performance, driven by AI optimism. Treasury Secretary Janet Yellen expressed concerns about digital assets and the commercial real estate sector, advocating for regulatory action and fiscal sustainability. Bullish views were shared on Tesla, Palantir, and a meme coin named Floki, while bearish perspectives focused on the market dominance of tech giants, Disney's diversity policies, and PayPal's conservative outlook for 2024.

Portfolio Pulse from Michael Cohen

February 10, 2024 | 1:39 pm

LPX

LP Building Solutions (LPX) has increased its quarterly dividend to $0.26 per share, an 8% rise from the previous $0.24. The new dividend is payable on March 8, 2024, to stockholders of record as of February 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 9:00 pm

ENB

Enbridge Inc (NYSE:ENB) reported a slight increase in Q4 FY23 adjusted EPS to C$0.64 from C$0.63 a year ago, with adjusted EBITDA rising to C$4.11 billion from C$3.91 billion. The growth was driven by higher Mainline volumes, increased contributions from the Midcontinent and Gulf Coast segment, and higher Canadian utility rates, among other factors. The company also announced a 3.1% increase in its 2024 quarterly dividend, marking the 29th consecutive annual increase, and reiterated its 2024 financial guidance. Additionally, Enbridge sold its stakes in Alliance Pipeline and Aux Sable to Pembina Pipeline Corporation for C$3.1 billion. ENB shares dropped by 0.99% to $34.01.

Portfolio Pulse from Lekha Gupta

February 09, 2024 | 5:58 pm

WPC

W.P. Carey Inc (NYSE:WPC) shares fell after reporting Q4 FY23 earnings with a revenue increase of 2.4% Y/Y to $412.4 million, missing consensus. Lease revenues decreased due to reclassifications and a spin-off, and AFFO per share dropped 7.8% Y/Y to $1.19, below expectations. The company announced a FY24 AFFO per share outlook of $4.65-$4.75 and plans for increased investment volume. Despite the downturn, CEO Jason Fox remains optimistic about 2024.

Portfolio Pulse from Lekha Gupta

February 09, 2024 | 5:37 pm

PAA

Plains All American Pipeline, L.P. (NASDAQ:PAA) reported a significant increase in Q4 fiscal 2023 earnings with revenue of $12.698 billion, adjusted EPS of $0.42, and operating income of $426 million. The company saw a 12% Y/Y increase in adjusted EBITDA to $737 million, with notable growth in both Crude Oil and GL Segments. Adjusted Free Cash Flow for fiscal 2023 was $1.60 billion. PAA increased distributions to $0.20 per unit, a 23% YoY increase. For 2024, PAA expects adjusted EBITDA of $2.625 to $2.725 billion and aims to generate ~$1.65 billion in Adjusted Free Cash Flow.

Portfolio Pulse from Akanksha Bakshi

February 09, 2024 | 4:53 pm

MGA

Magna International Inc (NYSE:MGA) reported Q4 2023 sales of $10.45 billion, nearly meeting consensus estimates. Sales rose 9% Y/Y, outpacing global light vehicle production growth. Adjusted EBIT and net income also increased, but adjusted EPS of $1.33 missed estimates. The company declared a dividend increase and provided optimistic sales and production forecasts for FY 2024 and 2026. Despite this, MGA shares fell 6.08% to $55.11.

Portfolio Pulse from Vandana Singh

February 09, 2024 | 3:24 pm

FISI

RBB

RBB Bancorp (NASDAQ:RBB) announces a dividend payout of $0.16 per share with an annualized yield of 3.65%, payable on February 09, 2024, to shareholders of record as of January 31, 2024. The company has shown a consistent increase in dividend per share from $0.33 in 2020 to $0.64 in 2023, alongside a growth in earnings per share from $1.62 in 2020 to $2.71 in 2023, indicating strong financial health and a commitment to enhancing shareholder value. Financial Institutions (NASDAQ:FISI) is mentioned for having the highest annualized dividend yield at 6.36% among industry peers.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 3:05 pm