Streetbeat News

Dividends

SJM

J.M. Smucker has announced a 4% increase in its dividend from $1.02 to $1.06 per share. The next dividend will be paid on September 1, 2023, to shareholders of record at the close of business on August 18, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 10:46 am

KBH

KB Home (NYSE:KBH) has announced a 33% increase in its quarterly cash dividend to $0.20 per share, resulting in an annualized dividend rate of $0.80 per share. The next dividend is payable on August 17, 2023. The company's Q2 FY23 sales grew by 3% to $1.77 billion, surpassing the analyst consensus of $1.42 billion.

Portfolio Pulse from Shivani Kumaresan

July 14, 2023 | 9:54 am

ATR

AptarGroup has increased its quarterly cash dividend by 7.9% from $0.38 to $0.41 per share. The payment date is set for August 17, 2023, for stockholders of record as of July 27, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 9:08 pm

KBH

KB Home's Board of Directors has declared a 33% increase in the next quarterly cash dividend from $0.15 to $0.20 per share. The dividend will be payable on August 17, 2023, to stockholders of record on August 3, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:40 pm

SBAC

BMO Capital Markets analyst Ari Klein initiated coverage of SBA Communications Corp (NASDAQ:SBAC) with a Market Perform rating and a price target of $260. Klein is bullish on SBAC's position as a pure-play tower REIT and expects the company to see a sector-leading dividend CAGR of 18% from 2022-2025. However, he also notes that SBAC has the highest leverage among its peers and expresses concern about its a-la-carte leasing approach.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 6:27 pm

BAC

T

AT&T Inc (NYSE:T) is currently trading near multi-decade lows, but there may be an opportunity for investors to capitalize on both potential capital appreciation and its dividends. AT&T's CFO Pascal Desroches recently reassured investors about the company’s financial health at the Bank of America Corp (NYSE:BAC) C-Suite Technology, Media and Telecommunications Conference. Desroches reiterated AT&T’s free cash flow target of $16 billion or more for 2023. The projected cash flow, combined with AT&T’s trading at near historic lows, may present an appealing opportunity for yield-seeking investors.

Portfolio Pulse from AJ Fabino

July 13, 2023 | 6:27 pm

CCI

BMO Capital Markets analyst Ari Klein initiated coverage on Crown Castle Inc (NYSE:CCI) with an Underperform rating and a price target of $113. Despite CCI's strong position as a U.S. tower operator and potential for higher share of initial 5G deployments, Klein expects CCI's adjusted FFO/share to decline by 1.7% in 2024 and 1.3% in 2025, with minimal dividend growth. CCI's AFFO/share growth is expected to lag peers over the next few years.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 5:25 pm

KAMN

PKE

Kaman (NYSE:KAMN) is distributing a dividend payout of $0.20 per share, resulting in an annualized dividend yield of 3.55%. The company has maintained a steady dividend per share of $0.80 from 2019 to 2022. However, Kaman's earnings per share decreased from $2.41 to $1.26 during the same period, which could impact its ability to sustain or increase its cash dividend payouts. Park Aerospace (NYSE:PKE) has the highest annualized dividend yield at 3.59% among its industry peers.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:06 pm

BHE

DSWL

Benchmark Electronics (NYSE:BHE) is set to deliver a dividend payout of $0.17 per share, equating to an annualized dividend yield of 2.69%. The company's dividend payout went ex-dividend on June 29, 2023. The company has seen an average increase in its dividend per share from $0.60 in 2019 to $0.66 in 2022. Earnings per share also increased from $1.46 to $1.99 during the same period. Benchmark Electronics finds itself in the middle ground among its industry peers in terms of dividend yield, with Deswell Indus (NASDAQ:DSWL) leading with a 7.75% yield.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:06 pm

CPF

WASH

Washington Trust Bancorp (NASDAQ:WASH) is set to distribute a dividend payout of $0.56 per share, resulting in an annualized dividend yield of 7.99%. This payout is for investors who held the stock before the ex-dividend date on June 30, 2023. The company has shown a steady increase in dividend per share and earnings per share from 2019 to 2022. It surpasses Central Pacific Financial (NYSE:CPF) with an annualized dividend yield of 6.44%.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:05 pm