Streetbeat News

Dividends

QCOM

Qualcomm Inc. (QCOM) has shown consistent dividend growth with an annual increase of 6.90% over the past three years. Recognized for increasing dividends yearly since 2003, the company also boasts a 15.80% average annual revenue increase. With a current stock price of $129 and a Q4 dividend of $0.80 per share, investors would need to invest $251,046 to earn $500 monthly from dividends, or $50,209 for $100 monthly. The dividend yield, currently at 2.34%, is subject to change with fluctuations in dividend payments and stock price.

Portfolio Pulse from judithnwadigo@gmail.com

December 15, 2023 | 5:49 pm

COST

Costco Wholesale Corporation (NASDAQ:COST) stock is trading higher after reporting Q1 earnings of $3.48 per share, surpassing estimates of $3.42 and up from $3.10 year-over-year. Sales reached $57.80 billion, exceeding estimates of $57.72 billion. Costco also declared a $15 special dividend. Analysts from Raymond James, Truist Securities, and Telsey Advisory Group have raised their price targets for Costco following the earnings report.

Portfolio Pulse from Erica Kollmann

December 15, 2023 | 4:34 pm

ABT

Abbott (NYSE:ABT) has raised its quarterly dividend by 7.8% from $0.51 to $0.55 per share, marking its 52nd consecutive year of dividend growth and its 400th consecutive quarterly dividend since 1924. The increased dividend is payable on Feb. 15, 2024, to shareholders of record as of Jan. 12, 2024. Abbott is part of the S&P 500 Dividend Aristocrats Index.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 4:28 pm

COST

Costco Wholesale Corporation (NASDAQ:COST) reported strong Q1 earnings, surpassing expectations with $3.58 per share. Analysts from Telsey Advisory Group, Raymond James, and Oppenheimer have raised their price targets and maintained Outperform ratings, citing robust membership growth, healthy renewal rates, and a special dividend of $15 per share. Despite potential near-term volatility, Costco's fundamentals are seen as strong, with plans for new club openings and a solid balance sheet. COST shares rose 3.88% to $655.26 following the earnings release.

Portfolio Pulse from Priya Nigam

December 15, 2023 | 4:21 pm

STLD

Steel Dynamics Inc (NASDAQ:STLD) shares increased after the company provided Q4 2023 earnings guidance, expecting EPS of $2.60 - $2.64, in line with estimates but lower than Q3 and Q4 FY22 results. The company anticipates lower profitability from steel operations due to metal spread contraction, despite solid steel order activity and recent pricing increases. Earnings from metals recycling are expected to be comparable to Q3, while steel fabrication earnings are projected to decrease. Steel Dynamics has repurchased $1.4 billion of its stock and paid $271 million in dividends in 2023. The company will release full-year earnings on January 23, 2024. STLD shares rose by 5.64% to $125.85.

Portfolio Pulse from Shivani Kumaresan

December 15, 2023 | 3:54 pm

ATNI

BATL

CEG

U.S. stocks were mixed on Friday, with notable gains in several companies. Battalion Oil Corporation surged 81.4% after announcing its acquisition by Fury Resources. ATN International's stock climbed 13.1% following an expansion of its share repurchase program and a dividend increase. Constellation Energy Corporation also saw a 4.3% rise after approving a $1 billion increase to its share repurchase program. Other stocks that moved higher include loanDepot, Compañía de Minas Buenaventura, ZIM Integrated Shipping Services, Context Therapeutics, Bicycle Therapeutics, MINISO Group Holding, Lithium Americas, Alector, Nextdoor Holdings, and JD.com.

Portfolio Pulse from Avi Kapoor

December 15, 2023 | 3:21 pm

FLIC

MVBF

MVB Financial (NASDAQ:MVBF) is set to distribute a dividend of $0.17 per share with an annualized yield of 3.44%. The ex-dividend date was November 30, 2023. The company has shown a positive trend in dividend growth from $0.20 to $0.68 per share from 2019 to 2022, and earnings per share increased from $1.24 to $1.43 over the same period. First of Long Island (NASDAQ:FLIC) has the highest annualized dividend yield in the industry at 6.36%.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 3:05 pm

BTI

VGR

Vector Group (NYSE:VGR) is distributing a dividend of $0.20 per share today, with an annualized yield of 7.46%. The dividend is available to shareholders who owned the stock before the ex-dividend date of November 30, 2023. The company's dividend per share has decreased from $1.60 in 2019 to $0.80 in 2022, while earnings per share have grown from $0.82 to $0.92 over the same period. This suggests a shift in focus towards reinvesting profits for growth rather than dividend distribution. Vector Group's dividend yield is mid-range compared to industry peers like British American Tobacco (NYSE:BTI), which has a yield of 9.35%.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 3:05 pm

AMNB

WASH

American National (NASDAQ:AMNB) is distributing a dividend of $0.30 per share today, with an annualized yield of 2.79%. The dividend went ex-dividend on November 30, 2023. The company has shown a positive trend in dividend per share and earnings per share from 2019 to 2022, indicating strong financial health. Washington Trust Bancorp (NASDAQ:WASH) has the highest annualized dividend yield among peers at 6.81%.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 3:05 pm

HAYN

METCB

Haynes Intl (NASDAQ:HAYN) will pay a dividend of $0.22 per share on December 15, 2023, with an annualized yield of 1.76%. Shareholders as of November 30, 2023, will be eligible. The company has consistently paid the same dividend since 2019, and its earnings per share have grown from $0.77 in 2019 to $3.58 in 2022, indicating financial health and potential for future dividend increases. Haynes Intl's dividend yield is moderate compared to industry peers, with Ramaco Resources (NASDAQ:METCB) leading at 8.55% yield.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 3:05 pm