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Dividends

UPS

UPS has provided its full year 2024 financial outlook, projecting revenues of $92B-$94.5B, which is below the consensus estimate of $95.57B. The company anticipates a consolidated adjusted operating margin of 10.0%-10.6%. Capital expenditures are expected to be about $4.5B, with planned dividend payments of approximately $5.4B, pending board approval. The effective tax rate is forecasted to be around 23.5%.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:09 am

UPS

UPS has announced an increase in its quarterly dividend from $1.62 to $1.63 per share, payable on March 8, 2024, to shareholders of record as of February 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 11:06 am

USCB

USCB Financial Holdings, Inc. has announced the initiation of a quarterly cash dividend program and declared its first quarterly dividend of $0.05 per share, payable on March 5, 2024, to shareholders on record as of February 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:31 pm

CR

Crane Company has announced an increase in its quarterly dividend from $0.18 to $0.205 per share, signaling confidence in its financial stability and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:22 pm

FBIZ

First Business Bank has declared a 10% increase in its quarterly common stock dividend, raising it to $0.25 per share.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:20 pm

GM

General Motors has announced a 33% increase in its quarterly dividend, raising it from $0.09 to $0.12 per share. The dividend will be payable on March 14, 2024, to shareholders of record as of March 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:02 pm

REVG

REV Group Inc (NYSE:REVG) shares surged after announcing a special dividend and strategic actions, including the sale of its Collins Bus Corporation to Forest River Bus, LLC for $303.0 million and the planned exit from transit bus manufacturing by shutting down its ENC business. The company will reorganize into two segments, Specialty Vehicles and Recreational Vehicles, and expects to generate $250 million in net cash proceeds, returning $180 million to shareholders as a special dividend. The dividend is payable on February 16, 2024, to shareholders of record on February 9, 2024. Remaining proceeds will be used to reduce debt. REV Group will update its fiscal 2024 guidance in its upcoming earnings release.

Portfolio Pulse from Lekha Gupta

January 29, 2024 | 5:04 pm

ARLP

Alliance Resource Partners LP (NASDAQ:ARLP) shares dropped after reporting Q4 earnings and sales that missed expectations. Revenue fell 11.2% Y/Y to $625.4 million, below the consensus of $661.9 million, due to lower coal and oil & gas prices and decreased coal sales volumes. Earnings per unit were $0.88, under the expected $1.14. The company completed $24.8 million in oil & gas mineral interest acquisitions, expects coal sales volumes of 34.0 – 35.8 million short tons for FY24, and anticipates benefits from major infrastructure projects in 2025. ARLP announced a quarterly cash distribution of $0.70 per unit, payable on February 14, 2024.

Portfolio Pulse from Lekha Gupta

January 29, 2024 | 3:46 pm

CALM

CPB

Campbell Soup (NYSE:CPB) is set to distribute a dividend of $0.37 per share on January 29, 2024, with an annualized yield of 3.66%. Shareholders as of January 03, 2024, will be eligible. The company's dividend per share has grown from $1.42 to $1.48 from 2020 to 2023, while earnings per share have declined from $3.20 to $2.89, raising concerns about future dividend sustainability. Campbell Soup's dividend yield is moderate compared to industry peers like Cal-Maine Foods (NASDAQ:CALM), which has a higher yield of 5.49%.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 3:06 pm

IVR

TWO

Two Harbors Inv (NYSE:TWO) is set to pay a dividend of $0.45 per share with an annualized yield of 12.54%. The ex-dividend date was January 11, 2024. The company has shown a positive dividend growth from 2020 to 2023 but has experienced a decrease in earnings per share from $2.92 in 2020 to $0.30 in 2023. In comparison, Invesco Mortgage Capital (NYSE:IVR) has the highest annualized dividend yield in the industry at 17.41%.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 3:05 pm