Streetbeat News

Dividends

PEP

PepsiCo has updated its FY24 financial outlook, expecting at least a 4% increase in organic revenue and an 8% increase in core constant currency EPS. The company forecasts a core EPS of at least $8.15, surpassing the $8.14 estimate. It anticipates a core annual effective tax rate of 20%, total cash returns to shareholders of approximately $8.2 billion, including $7.2 billion in dividends and $1.0 billion in share repurchases. However, a 1-percentage-point foreign exchange translation headwind is expected to impact reported net revenue and core EPS growth.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 11:03 am

MGA

Magna International announced a 3% increase in its quarterly dividend to $0.475 per share, marking the 14th consecutive year of fourth quarter dividend increases. The dividend is payable on March 8, 2024, to shareholders of record as of February 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 10:08 am

ARM

DIS

MGA

NWL

PAA

PEP

Investor sentiment improved as the S&P 500 briefly surpassed 5,000, marking a record. The Walt Disney Company and Arm Holdings plc saw significant stock jumps due to strong earnings reports. U.S. economic data showed a decrease in jobless claims and an increase in wholesale inventories. The Dow Jones, S&P 500, and Nasdaq all closed higher. Earnings results from Magna International, Plains All American Pipeline, and PepsiCo are anticipated.

Portfolio Pulse from Avi Kapoor

February 09, 2024 | 7:38 am

META

Mark Zuckerberg has been selling Meta Platforms, Inc. (NASDAQ:META) shares at a rapid pace following its significant stock rally due to excellent Q4 financial results and positive Q1 guidance. Since November 2023, Zuckerberg has sold nearly $744 million worth of shares. Meta's stock has surged 32.78% YTD and 164.16% over the past year, benefiting from a focus on efficiency, AI, and a rebound in ad spending. The company also announced its first quarterly dividend and expanded its share repurchase program.

Portfolio Pulse from Ananya Gairola

February 09, 2024 | 6:56 am

WY

Weyerhaeuser Company (NYSE:WY) has announced a 5.3% increase in its quarterly base cash dividend to $0.20 per share, payable on March 22, 2024, to stockholders of record as of March 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 6:47 am

CHCT

Community Healthcare Trust Incorporated (CHCT) has increased its quarterly dividend by 0.5% to $0.4575 per share, payable on March 1, 2024, to shareholders of record as of February 20, 2024. This increase continues CHCT's trend of raising its dividend every quarter since its IPO.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 6:43 am

AESI

Atlas Energy Solutions announced a 5% increase in its quarterly dividend to $0.21 per share, payable on February 29, 2024, to shareholders of record as of February 22, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 6:34 am

META

Meta Platforms Inc. (NASDAQ:META) is not renewing its lease for seven floors at South Beach Tower in Singapore, following global layoffs and cost-cutting measures. Despite these cutbacks, Meta announced a $50 billion stock buyback and its first quarterly dividend, signaling financial strength. The company also plans to increase employee bonuses after a strong fourth quarter, with revenue up 25% year-over-year to $40.11 billion, surpassing expectations.

Portfolio Pulse from Ananya Gairola

February 09, 2024 | 2:35 am

FBP

First BanCorp announced a 14% increase in its quarterly cash dividend on common stock, raising it from $0.14 to $0.16 per share, payable on March 8, 2024, to shareholders of record as of February 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 10:29 pm

STT

State Street Corporation (NYSE:STT) announced its plan to redeem $1 billion of preferred stock in Q1 2024, comprising $750 million of Series D and $250 million of Series F preferred stock. The redemption will occur on March 15, 2024, at specified redemption prices plus unpaid declared dividends. Additionally, cash dividends for both Series D and F have been declared for the period leading up to the redemption date.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:54 pm