Streetbeat News

Dividends

AYI

Acuity Brands has announced an increase in its quarterly dividend from $0.13 to $0.15 per share. Additionally, the company's board has authorized the repurchase of an additional 3 million shares.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:17 pm

AROC

Archrock, Inc. has announced an increase in its quarterly cash dividend from $0.155 to $0.165 per share.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:03 pm

BZFD

BuzzFeed Inc (NASDAQ:BZFD) and Vice Media are facing financial difficulties, leading to downsizing and asset sales. BuzzFeed's stock has dropped over 97% since its 2021 IPO, and it is now looking to sell its food-focused sites Tasty and First We Feast. Vice Media, overseen by Fortress Investment Group after bankruptcy, is trying to sell Refinery29 after a failed attempt to sell the entire company. Both companies are struggling with a volatile advertising market and reduced traffic, reflecting broader industry challenges for digital media.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 8:06 pm

VIRT

Virtu Financial, Inc. (NASDAQ:VIRT) reported Q4 earnings with adjusted net trading income and EPS below analyst estimates, leading to an 11.35% drop in stock price. Adjusted net trading income fell 4.8% YoY, and adjusted EBITDA decreased by 20.7%. The company declared a quarterly dividend of $0.24 per share.

Portfolio Pulse from Nabaparna Bhattacharya

January 25, 2024 | 5:43 pm

VLO

Valero Energy Corp (NYSE:VLO) shares rose after reporting Q4 FY23 results with revenue of $35.41 billion, slightly missing consensus estimates, but with an adjusted EPS of $3.55, surpassing expectations. The Refining segment saw a decrease in operating income compared to the previous year, while the Renewable Diesel and Ethanol segments reported higher sales volumes and operating income, respectively. Valero increased its quarterly dividend, reported strong operating cash flow, and significant returns to stockholders through dividends and share repurchases. The company also provided updates on its Sustainable Aviation Fuel project, which is on schedule. VLO shares were up 2.56% at $133.49.

Portfolio Pulse from Lekha Gupta

January 25, 2024 | 5:30 pm

ADT

ADT Inc's stock is soaring after announcing the exit from its residential solar business and revealing shareholder appreciation initiatives. The solar segment reported an Adjusted EBITDA loss of $(89) million in nine months of FY23. The Board approved the divestiture of the solar business and is assessing the net costs of the exit. Additionally, ADT raised its quarterly dividend by 57% to $0.055 and authorized a $350 million share buyback program. The company also repaid $500 million of debt, reducing total debt by $2 billion. ADT will report Q4 and full-year results on February 28, 2024, and its shares are currently up 11.08% at $6.86.

Portfolio Pulse from Lekha Gupta

January 25, 2024 | 5:08 pm

MUR

Murphy Oil Corp (NYSE:MUR) reported Q4 adjusted EPS of $0.90, missing consensus of $0.99, and revenues of $844.2 million, below the expected $856.0 million. Despite a 10% dividend increase in Q4 and an additional 9% post-quarter, shares fell by 2.55%. Production was in line with guidance but lower in some areas. EBITDAX decreased to $496 million from $504 million a year ago. The company reduced debt significantly and expects to produce 180-188 MBOEPD in FY24 with a capital expenditure of $920 million to $1.02 billion.

Portfolio Pulse from Lekha Gupta

January 25, 2024 | 4:58 pm

ADT

ADT Inc. has announced its decision to exit the residential solar business, alongside plans to increase its dividend and initiate a $350 million share repurchase program. These strategic moves have led to an increase in ADT's stock price.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 4:02 pm

CMCSA

Comcast Corporation's stock (CMCSA) is trading higher following the announcement of its Q4 earnings that surpassed expectations. The company also declared a $15 billion stock buyback program and increased its dividend, signaling confidence in its financial stability and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 3:07 pm

GEN

ORCL

Oracle (NYSE:ORCL) is set to distribute a dividend of $0.40 per share with an annualized yield of 1.41%. The dividend is for shareholders on record before January 10, 2024. Oracle has shown a positive trend in dividend per share growth from $0.96 in 2020 to $1.60 in 2023, and earnings growth from $4.16 to $5.42 per share over the same period. This suggests strong financial health and potential for continued profit distribution. Gen Digital (NASDAQ:GEN) has the highest dividend yield in the industry at 2.13%.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 3:05 pm