Streetbeat News

Dividends

ADTN

ERIC

XRX

Three tech stocks with high dividend yields have been rated by Wall Street's most accurate analysts. Xerox Holdings Corporation (XRX) has a 7.49% yield but faces downgrades with a reduced price target. ADTRAN Holdings, Inc. (ADTN) offers a 6.63% yield, with mixed ratings and a lowered price target. Telefonaktiebolaget LM Ericsson (ERIC) provides a 5.47% yield, with a reduced price target and a downgrade to Market Perform. All three companies reported mixed financial results or a decline in sales.

Portfolio Pulse from Lisa Levin

November 13, 2023 | 1:27 pm

SR

Spire Inc. has announced an increase in its annual common stock dividend from $2.88 to $3.02, marking a positive development for shareholders.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:24 pm

RLX

RLX Technology's Board of Directors has approved a cash dividend of $0.01 per ordinary share and per ADS, payable in December 2023 to shareholders on record as of December 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:09 am

AAPL

HNHPF

Foxconn, also known as Hon Hai Precision Industry Co. (HNHPF), has launched two prototype low-Earth orbit satellites, marking its diversification into space technology. This move, using a SpaceX rocket, is part of Foxconn's strategy to reduce reliance on its core businesses like smartphones and laptops, which are facing challenges. The satellites are intended for corporate and government clients, differentiating Foxconn's approach from SpaceX's consumer-focused Starlink constellation. Apple Inc. (AAPL), for whom Foxconn is a major supplier, is indirectly related to this development.

Portfolio Pulse from Anan Ashraf

November 13, 2023 | 2:55 am

AEP

American Electric Power (AEP) is focusing on regulated operations and expects to generate value for customers and investors. AEP reaffirmed its 2023 operating earnings guidance range of $5.24 to $5.34 per share and announced a 2024 guidance range of $5.53 to $5.73 per share. The company also confirmed a long-term growth rate of 6%-7%. AEP's $43 billion capital investment plan over five years will prioritize transmission, distribution, and regulated renewables. The company completed the sale of its unregulated renewables portfolio and is progressing with the sale of other non-core businesses. AEP increased its quarterly dividend to 88 cents per share, aligning with its earnings growth and targeted payout ratio.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 9:34 pm

HVT

Havertys (NYSE:HVT) has announced a special cash dividend of $1.00 per share on common stock and $0.95 per share on Class A common stock. Additionally, the board approved a regular quarterly cash dividend of $0.30 per share on common stock and $0.28 per share on Class A common stock. Both dividends will be paid on December 13, 2023, to shareholders of record as of November 28, 2023. Havertys has a long history of paying dividends, having done so annually since 1935.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 9:12 pm

MPW

Medical Properties Trust Inc (MPW) shares dropped approximately 10% following a downgrade by Stifel analyst Stephen Manaker from Buy to Hold, with a reduced price target of $4.50 from $12. Concerns include operator stress, delayed asset sale to Yale, and late rent payment by the largest tenant, Steward. The challenging interest rate environment and credit access may exacerbate tenant credit issues. MPW missed Q3 FY23 revenue estimates and reported lower normalized FFO compared to the previous year. The company raised FY23 FFO guidance but the analyst expects a decrease in 2024 earnings due to asset divestitures and leverage reduction. The analyst adjusted FY23 and FY24 FFO estimates and highlighted potential volatility in quarterly earnings.

Portfolio Pulse from Lekha Gupta

November 10, 2023 | 5:43 pm

UBSI

United Bankshares, Inc. (UBSI) has announced an increase in its quarterly dividend from $0.36 to $0.37 per share, marking the 50th consecutive year of dividend growth. The dividend is payable on January 2, 2024, to shareholders of record as of December 8, 2023. The total dividend payout will be approximately $49.9 million on 134.9 million shares. CEO Richard M. Adams, Jr. highlighted the company's strong performance and disciplined approach as key factors in its ability to consistently increase dividends.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 5:11 pm

CAPL

GPP

CrossAmerica Partners (NYSE:CAPL) is distributing a dividend of $0.53 per share with an annualized yield of 9.60%, payable to shareholders who held the stock before November 2, 2023. The company has maintained a stable dividend per share of $2.10 from 2019 to 2022 and has shown positive earnings growth, with earnings per share increasing from $0.60 to $1.51 over the same period. Green Plains Partners (NASDAQ:GPP) has the highest annualized dividend yield in the industry at 13.98%.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 3:05 pm

BMRC

WTBA

Bank of Marin (NASDAQ:BMRC) is distributing a dividend of $0.25 per share with an annualized yield of 5.68%. The company has shown a positive trend in dividend per share from $0.80 in 2019 to $0.98 in 2022, and an increase in earnings per share from $2.52 to $2.81 over the same period. West Bancorp (NASDAQ:WTBA) has the highest annualized dividend yield among peers at 6.08%.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 3:05 pm