Streetbeat News

Dividends

MPW

Medical Properties Trust Inc (MPW) has outlined a new capital allocation strategy aimed at enhancing its balance sheet, reducing its cost of capital, and increasing long-term shareholder value. The company plans to cut discretionary operating expenses and other costs, continue refinancing, sales, and joint-venture opportunities, and reduce its asset base. It has also declared a quarterly dividend of 15 cents per share. Over the past 18 months, MPW has closed several deals to lower its adjusted funds from operations (AFFO), and has more deals expected to close in H2 2023.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 2:33 pm

MPW

Medical Properties Trust Inc (MPW) has clarified issues regarding a halted transaction with Prospect Medical Holdings, as reported by the Wall Street Journal. The California state regulator ordered the transaction to be put on hold on July 20, requiring additional information before issuing final approval. MPW expects to complete the transaction and has shifted its capital allocation strategy to preserve capital, slashing its quarterly dividend by 49% to $0.15 per share. The company will continue exploring refinancing, sales, and joint-venture opportunities.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 1:59 pm

MPW

Medical Properties Trust, Inc. (MPW) has updated its capital allocation strategy to strengthen its balance sheet and accelerate deleveraging. The company has reduced its quarterly dividend from $0.29 to $0.15 per share to align with its cash flow profile following asset divestitures. Over the past 18 months, MPW has completed several transactions that have lowered its adjusted funds from operations (AFFO), including partnerships and asset sales. The company plans to continue exploring refinancing, sales, and joint-venture opportunities, reduce costs, and sell certain non-leased and non-real estate assets.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 1:50 pm

NEWT

NewtekOne, Inc. (NASDAQ:NEWT) announced that its bank subsidiary, Newtek Bank, N.A., has declared a dividend of $2.0 million, payable to NewtekOne. The dividend declaration comes after Newtek Bank's swift ascension to profitability for the six months ended June 30, 2023, following its acquisition by NewtekOne on January 6, 2023.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 12:56 pm

LVO

PodcastOne's common stock is expected to start trading on a national securities exchange around September 8, 2023. LiveOne has set a record date of August 28, 2023, for a special dividend of approximately 19% of PodcastOne's common stock to LiveOne's 24K+ shareholders. LiveOne shareholders are expected to receive approximately 0.048 shares of PodcastOne common stock per share of LiveOne common stock. PodcastOne shares are expected to open trading at $8 per share minimum.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 12:47 pm

ESTE

PR

Permian Resources Corp (PR) has signed a definitive acquisition deal to buy Earthstone Energy Inc (ESTE) for around $4.5 billion, including ESTE's net debt. The acquisition will add over 400,000 Permian net acres to PR's assets and is expected to be accretive to FCF per share by over 30% annually in the next two years. PR also plans to raise the quarterly base dividend by 20% to $0.06 per share, starting Q1 2024. The deal is expected to close by year-end 2023.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 12:20 pm

CCOI

OMC

VZ

Three high-yielding stocks in the communication services sector have been highlighted by Wall Street's most accurate analysts. These include Verizon Communications Inc. (VZ) with a dividend yield of 7.86%, Cogent Communications Holdings, Inc. (CCOI) with a dividend yield of 5.36%, and Omnicom Group Inc. (OMC) with a dividend yield of 3.56%. Recent news for these companies include a sales decline for Verizon, better-than-expected Q2 EPS results for Cogent, and worse-than-expected Q2 sales results for Omnicom.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 12:13 pm

DD

DuPont has announced an agreement to divest 80% of its ownership in the Delrin business to TJC for $1.8 billion.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 11:02 am

CABO

Cable One, Inc. (NYSE:CABO) has announced a quarterly cash dividend increase from $2.85 to $2.95 per share. The dividend will be payable on September 15, 2023 to stockholders of record at the close of business on August 29, 2023.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:35 pm

BCML

BayCom Corp (NASDAQ:BCML) has announced a quarterly cash dividend of $0.10 per share, payable on October 13, 2023. The company also announced its eighth stock repurchase program, authorizing the repurchase of up to 588,000 shares, or approximately 5% of currently outstanding shares, over a one-year period. The new program will commence upon completion of the seventh stock repurchase program, which will expire on April 21, 2024.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:31 pm