Streetbeat News

Dividends

QSR

Restaurant Brands International Inc (NYSE:QSR) reported Q3 FY23 sales growth of 6.4% YoY to $1.837 billion, missing the analyst consensus estimate of $1.874 billion. Consolidated comparable sales increased 7%, and net restaurants grew 4.2% versus the prior year. Adjusted EPS of $0.90 beat the consensus estimate of $0.86. The company held $1.3 billion in cash and equivalents as of September 30, 2023, and declared a dividend of $0.55 per common share. QSR shares traded lower by 3.03% at $67.00 premarket on Friday.

Portfolio Pulse from Shivani Kumaresan

November 03, 2023 | 1:00 pm

STLD

Steel Dynamics, Inc. (NASDAQ:STLD) has announced an additional $1.5 billion share repurchase program, effective immediately. This is in addition to the previous $1.5 billion program, which had $278 million remaining as of September 30, 2023. The company has repurchased $5.2 billion of its common stock since 2017, representing 36% of its outstanding shares. The company's board also declared a quarterly cash dividend of $0.425 per common share, payable on January 16, 2024.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 12:32 pm

PAA

PAGP

Plains All American's board has increased the annualized dividend rate by 19% from $1.07 to $1.27 per share for PAA & PAGP. The company also plans to lower the long-term leverage ratio target range by 0.5x to 3.25x - 3.75x and expects year-end 2023 leverage to be below 3.5x.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 11:55 am

PAA

Plains All American's board has increased the annualized dividend rate by 19% from $1.07 to $1.27 per share. The management also plans to recommend a further increase of $0.20 per unit to PAA's and PAGP's Q4 2023 distribution payable in February 2024. Additionally, the company is lowering its long-term leverage ratio target range by 0.5x to 3.25x - 3.75x and expects year-end 2023 leverage to be below 3.5x.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 11:54 am

EOG

EOG Resources Inc's Q3 FY23 results beat consensus estimates, with revenues of $6.2 billion and adjusted EPS of $3.44. The company raised its quarterly dividend by 10% to $0.91 and declared a special dividend of $1.50 per share. EOG also increased its 2024+ cash return commitment to a minimum of 70% of annual free cash flow. The company's shares are trading higher in premarket.

Portfolio Pulse from Lekha Gupta

November 03, 2023 | 11:46 am

LNT

Alliant Energy has issued its 2024 EPS guidance of $2.99-$3.13 and a common stock dividend target of $1.92.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 10:08 pm

KLG

WK Kellogg has announced its first dividend of $0.16 per share following its spin-off from Kellanova. The dividend will be payable on December 15, 2023, to shareholders of record at the close of business on December 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:45 pm

SNA

Snap-on Incorporated (NYSE:SNA) has announced a 14.8% increase in its quarterly common stock dividend from $1.62 to $1.86 per share, payable on December 11, 2023. This marks the 14th consecutive annual increase in the company's dividend, demonstrating its commitment to creating long-term value for shareholders.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:44 pm

HASI

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) has adopted a tax benefits preservation plan to protect the value of its net operating losses (NOLs) and other tax attributes, which exceed $465 million as of December 31, 2022. The plan aims to prevent an 'ownership change' that could limit the company's ability to use its tax attributes. The board has declared a dividend of one right to purchase junior participating preferred stock for each outstanding share of HASI common stock, payable to holders of record as of November 21, 2023. The rights will expire on November 2, 2026.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:41 pm

MCHP

Microchip Technology Incorporated has announced a quarterly cash dividend of $0.439 per share, payable on December 6, 2023. This represents an increase from the previous dividend of $0.41 per share and marks the 85th consecutive quarter of dividend payments. The company's financial performance for Q3 2023 was in line with expectations, generating solid cash and progressing towards its capital return strategy.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:35 pm