Streetbeat News

Dividends

DHI

D.R. Horton, Inc (DHI) shares are trading higher following its Q3 FY23 results. The company reported a 10.7% YoY sales growth to $9.725 billion, beating the consensus of $8.39 billion. EPS was $3.90, beating the consensus of $2.79. Home sales revenues were $8.7 billion on 22,985 homes closed. DHI repurchased 3.1 million shares for $342.9 million during the quarter. The company declared a quarterly cash dividend of $0.25 per share. DHI raised its FY23 outlook and now sees revenue of $34.7 billion-$35.1 billion.

Portfolio Pulse from Akanksha Bakshi

July 20, 2023 | 11:46 am

SLG

SL Green Realty Corp's shares are trading lower by around 5% after reporting worse-than-expected Q2 2023 earnings results. The company reported rental revenues of $165.65 million, an increase from $136.5 million a year ago, and total revenues of $221.07 million. However, FFO per share declined from $1.87 a year ago to $1.43. The company also declared a dividend of $3.25 per share in the quarter.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 10:50 am

LAND

NNN

RTL

WSR

Several REITs have announced dividend increases ahead of their Q2 earnings reports. NNN REIT Inc. (NYSE:NNN) increased its quarterly dividend by 2.7% and Gladstone Land Corp. (NASDAQ:LAND) increased its monthly dividend. Necessity Retail REIT Inc. (NASDAQ:RTL) is increasing its quarterly dividend and is set to be acquired by Global Net Lease Inc. (NYSE:GNL) in an all-stock transaction. Whitestone REIT (NYSE:WSR) is also increasing its monthly dividend.

Portfolio Pulse from Ethan Roberts

July 20, 2023 | 10:49 am

KVUE

Kenvue has announced a quarterly cash dividend of $0.20 per share, payable on September 7, 2023, to shareholders of record as of the close of business on August 28, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 10:41 am

RELL

Richardson Electronics Ltd (RELL) shares fell by around 10% after the company reported a Q4 FY23 earnings miss. Net sales fell 4.5% Y/Y to $58.8 million, missing the consensus of $61.5 million. Revenues declined across Power and Microwave Technologies (PMT) and Canvys business units, partly offset by higher revenues from Green Energy Solutions (GES) business. The company declared a quarterly cash dividend per share of $0.06 to holders of common stock and $0.054 to holders of Class B common stock.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 9:49 am

DFS

Discover Financial Services (NYSE:DFS) reported Q2 results with revenue of $3.878 billion, beating estimates of $3.8 billion, but EPS of $3.54, missing estimates of $3.67. The company saw a 19% YoY loan growth, reaching $117.9 billion. However, digital banking revenue fell by $322 million. Payment services volume and income increased by 8% YoY and from $20 million to $70 million respectively. The company repurchased 6.8 million shares for $700 million and declared a quarterly cash dividend of 70 cents per share. DFS shares were down 11.5% in after-hours trading.

Portfolio Pulse from Adam Eckert

July 19, 2023 | 9:01 pm

LVS

Las Vegas Sands (NYSE:LVS) reported Q2 revenue of $2.54 billion, up over 100% YoY and beating the Street estimate of $2.39 billion. EPS was 46 cents, beating the estimate of 43 cents. The company cited a recovery in travel and tourism spending in Macau and Singapore for the strong results. The company also announced the resumption of its return of capital program, including a 20-cent quarterly dividend. However, LVS shares are down 3% in after-hours trading.

Portfolio Pulse from Chris Katje

July 19, 2023 | 8:48 pm

BAC

Bank of America has announced an increase in its common stock dividend from $0.22 to $0.24 per share. The dividend will be payable on September 29, 2023, to shareholders of record as of September 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 8:42 pm

CBU

Community Bank System, Inc. (NYSE:CBU) has announced a quarterly cash dividend increase from $0.44 to $0.45 per share, payable on October 10, 2023. This represents a 2.27% increase and an annualized yield of 3.71% based on the closing share price of $48.58 on July 18, 2023. This marks the 31st consecutive year the company has increased its annual dividend.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 8:36 pm

RF

Regions Financial Corporation (NYSE:RF) has announced an increase in its quarterly common dividend to $0.24, a 20% increase over the previous dividend. The dividend will be paid in October 2023. The Board also declared cash dividends on its Series B, C, D, and E preferred shares.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 8:35 pm