Streetbeat News

Dividends

BGFV

Big 5 Sporting Goods Corp (NASDAQ:BGFV) shares fell over 15% after reporting weak Q3 FY23 results. Net sales and same-store sales declined, and the company's results were impacted by macroeconomic headwinds. Gross profit and adjusted EBITDA also fell. The company declared a reduced quarterly cash dividend per share of $0.125. For Q4, BGFV expects EPS to decrease and same-store sales to decrease in the high single-digit to low double-digit range Y/Y.

Portfolio Pulse from Lekha Gupta

November 01, 2023 | 10:18 am

CCEP

Coca-Cola Europacific Partners (CCEP) has declared a second half interim dividend per share of €1.17, to be paid in December 2023. This results in a full year dividend per share of €1.84, a 9.5% increase compared to 2022, maintaining an annualized total dividend payout ratio of approximately 50%.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:35 am

MPC

Marathon Petroleum reported Q3 financial results, announced an increase to its quarterly dividend, and an additional $5 billion share repurchase authorization. This news led to a rise in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 5:57 pm

ETRN

Equitrans Midstream Corp (ETRN) reported a 2% YoY increase in Q3 FY23 operating revenue to $338.51 million, beating estimates. The growth is attributed to increased transmission usage and higher water volumes. Adjusted EPS was $0.28, up from $0.09 in 3Q22, beating estimates. However, operating income declined by 13.5% YoY to $154.29 million. The company will pay a quarterly cash dividend of $0.15 per share on November 14, 2023. ETRN shares are trading higher by 1.20% at $8.89.

Portfolio Pulse from Akanksha Bakshi

October 31, 2023 | 5:28 pm

IGT

International Game Technology PLC (NYSE:IGT) reported flat Q3 FY23 revenue of $1.065 billion, beating the consensus of $1.029 billion. Revenue from Global Lottery declined by 4% Y/Y to $601 million, while Global Gaming rose 8% Y/Y to $409 million. Adjusted EBITDA rose 8% Y/Y to $433 million. The company declared a quarterly cash dividend of $0.20 per share. IGT expects Q4 revenue of $1.1 billion, with Global Lottery revenue up low-to-mid single-digits Y/Y. The company tightened the FY23 revenue outlook to $4.3 billion. IGT shares are trading lower by 4.58% at $25.21.

Portfolio Pulse from Lekha Gupta

October 31, 2023 | 4:39 pm

CGNX

Cognex Corp reported a Q3 FY23 revenue decline of 6% to $197.24 million, beating the consensus of $192.3 million. The company's financial position remains strong with $846 million in cash and no debt. Cognex has entered the vision sensor and optical components markets, expanding its served market size by $1.5 billion. The company declared a quarterly cash dividend of $0.075 per share, a 7% increase from the prior quarter. However, the company expects Q4 revenues to be lower than consensus estimates.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 4:19 pm

MPC

MPLX

Marathon Petroleum Corp (MPC) reported Q3 FY23 revenue of $41.58 billion, beating the consensus of $40.02 billion. Adjusted EBITDA was $5.71 billion, and adjusted EPS was $8.14, above the consensus of $7.77. The company had $13.1 billion of cash and equivalents, and $5 billion available on its bank revolving credit facility. MPC raised the quarterly dividend by 10% and approved an additional $5 billion share repurchase authorization. MPLX LP (MPLX) raised distribution by 10%, with MPC expected to receive an incremental $200 million annually.

Portfolio Pulse from Lekha Gupta

October 31, 2023 | 3:03 pm

ALX

Alexander's (NYSE:ALX) has announced a quarterly dividend of $4.5 per share, which will be paid out to shareholders on November 17, 2023. The stock will go ex-dividend on Friday, meaning it will likely open $4.5 lower than usual. Shareholders must own the stock prior to the ex-dividend date to be eligible for the dividend.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 2:46 pm

AMP

Ameriprise Finl (NYSE:AMP) has announced a quarterly dividend of $1.35 per share. The ex-dividend date is Friday, meaning the stock will likely open $1.35 lower to reflect the payout. Shareholders owning AMP by the end of Thursday's session are eligible for the dividend, which will be paid out on November 17, 2023.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 2:45 pm

BRKR

Bruker (NASDAQ:BRKR) has announced a quarterly dividend of 20 cents per share, payable on November 17, 2023. The stock will go ex-dividend on Friday, meaning it will likely open 20 cents lower. Shareholders who own BRKR as of the end of Thursday's session are eligible to receive the dividend.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 2:45 pm