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Dividends

JNJ

KVUE

Kenvue Inc, the former consumer unit of Johnson & Johnson, reported its first quarterly earnings since being spun off in May. Q2 sales increased 5.4% Y/Y to $4.01 billion, beating the consensus of $3.96 billion. The company also declared a $0.20 cash dividend and issued an upbeat outlook for fiscal 2023. However, KVUE shares are down 1.36% in premarket trading.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 1:01 pm

BX

Blackstone Inc (NYSE:BX) reported a 43% Y/Y drop in Q2 revenues to $2.35 billion, missing the consensus of $2.41 billion. Distributable earnings fell 43% Y/Y to $1.35 billion, largely due to a 64% decline in DE from the real estate business. However, the company hit a milestone of $1 trillion in assets under management, a 6% Y/Y increase. Blackstone also declared a quarterly dividend per share of $0.79 and repurchased $1.2 billion worth of stock.

Portfolio Pulse from Anusuya Lahiri

July 20, 2023 | 1:01 pm

FRT

NNN

O

Despite bearish predictions for real estate investment trusts (REITs), triple-net lease REITs continue to show strength. Three such REITs, Realty Income Corp. (NYSE:O), Federal Realty Investment Trust (NYSE:FRT), and NNN REIT Inc. (NYSE:NNN), have been highlighted for their stability and reliable dividend income. Realty Income Corp. has had a 14.6% compound annual total return since its IPO in 1994. Federal Realty Investment Trust declared FFO of $1.59 in the first quarter, a 6% increase over the same period in 2022. NNN REIT Inc. announced first-quarter operating results with FFO of $0.80 per share, up from $0.77 in the first quarter of 2022.

Portfolio Pulse from Ethan Roberts

July 20, 2023 | 12:08 pm

AWI

Armstrong World Industries Inc (NYSE:AWI) has approved an additional $500 million authorization to repurchase shares under the company's existing share repurchase program, increasing the total authorized amount to $1.7 billion. The program is extended through December 31, 2026. The company also declared a cash dividend of $0.254 per share, payable on August 17, 2023. AWI shares closed higher by 1.20% at $74.25 on Wednesday.

Portfolio Pulse from Shivani Kumaresan

July 20, 2023 | 11:53 am

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