Streetbeat News

Dividends

SAR

Saratoga Investment Corp. (NYSE:SAR) has increased its quarterly dividend from $0.71 to $0.72 per share for the fiscal third quarter ended November 30, 2023. This marks the fifteenth consecutive quarterly dividend increase. The dividend is payable on December 28, 2023, to shareholders of record as of December 11, 2023. The company attributes the increase to record earnings driven by high interest rates on floating rate assets, portfolio growth, and fixed rate liabilities. The annualized dividend rate suggests an 11.5% yield and a 17.2% earnings yield based on the recent stock price of $25.06 as of November 13, 2023. Shareholders can opt for cash payment or stock through the dividend reinvestment plan (DRIP).

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:32 pm

HIW

MPW

OUT

Analysts have provided ratings for high-yield dividend stocks in the real estate sector. Medical Properties Trust (MPW) was downgraded by JP Morgan and Raymond James, with a missed revenue consensus. Highwoods Properties (HIW) maintained ratings from Morgan Stanley and Credit Suisse, with better-than-expected sales. OUTFRONT Media (OUT) kept an Equal-Weight rating from Morgan Stanley and a Buy rating from Citigroup, with better-than-expected EPS results.

Portfolio Pulse from Lisa Levin

November 15, 2023 | 12:47 pm

GT

Goodyear Tire & Rubber Company has unveiled its 'Goodyear Forward' transformation plan, which includes exploring strategic alternatives for its chemical business, the Dunlop brand, and the off-the-road equipment tire business. This move is aimed at optimizing the company's portfolio and focusing on core operations.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:07 pm

NKE

NIKE's Board of Directors has approved a 9% increase in the quarterly cash dividend, raising it from $0.340 to $0.370 per share on both Class A and Class B Common Stock. The new dividend will be payable on January 2, 2024, to shareholders of record as of December 4, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 7:57 am

AMKR

Amkor Technology has announced a 5% increase in its quarterly dividend, raising it from $0.075 to $0.07875 per share. The dividend is scheduled to be paid on December 26, 2023, to shareholders on record as of December 5, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 7:02 am

RGLD

Royal Gold has announced an increase in its annual dividend from $1.50 to $1.60 per share, signaling confidence in its financial stability and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:48 pm

MGYR

Magyar Bancorp has declared a special cash dividend of $0.07 per share, payable on December 12, 2023, to shareholders of record as of November 28, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 8:06 pm

ARMK

Aramark (NYSE:ARMK) reported Q4 revenue of $4.902 billion, surpassing analyst expectations of $4.79 billion, with a 12% Y/Y increase. Adjusted EPS of $0.64 met estimates. Growth was driven by new business, pricing actions, and base business growth, with a slight boost from currency translation. Operating income rose 40% Y/Y to $278 million, and adjusted operating income increased 28% to $339 million. Aramark completed the spin-off of its Uniform Services business, now Vestis, and declared a dividend of 9.5 cents per share. The company ended the quarter with $1.963 billion in cash and equivalents. For FY24, Aramark forecasts 7%-9% organic revenue growth and 15%-20% adjusted operating income growth, with adjusted EPS expected to grow by 25%-35%. Shares fell by 7.22% to $26.46.

Portfolio Pulse from Nabaparna Bhattacharya

November 14, 2023 | 6:17 pm

NWBI

WSBC

Northwest Bancshares (NASDAQ:NWBI) is distributing a dividend of $0.20 per share today, with an annualized yield of 8.15%. The company has shown an increase in dividend per share from $0.72 in 2019 to $0.80 in 2022, but a decrease in earnings per share from $1.07 in 2019 to $1.03 in 2022. Northwest Bancshares leads its industry peers in dividend yield, with Wesbanco (NASDAQ:WSBC) having the next highest yield at 5.54%.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 3:05 pm

OKE

TRMD

ONEOK (NYSE:OKE) is distributing a dividend of $0.95 per share with an annualized yield of 5.50%. The dividend payout has decreased from $6.28 in 2019 to $3.74 in 2022, while earnings per share have increased from $3.00 to $3.60 in the same period. TORM (NASDAQ:TRMD) leads the industry with a 19.16% dividend yield. ONEOK's strategy suggests a focus on business growth over dividend distribution.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 3:05 pm