Streetbeat News

Dividends

MUSA

Murphy USA Inc. (NYSE:MUSA) announced an increase in its quarterly dividend from $0.42 to $0.44 per share, a 4.8% rise. The new dividend rate is annualized at $1.76 per share and will be payable on June 3, 2024, to shareholders of record as of May 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 10:01 pm

MTRN

Materion Corporation (NYSE:MTRN) has increased its quarterly dividend to $0.135 per share, up from $0.13. The new dividend will be payable on June 7, 2024, to shareholders of record as of May 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:53 pm

ESAB

ESAB Corporation (NYSE:ESAB) announced a 33% increase in its quarterly cash dividend, from $0.06 to $0.08 per share, payable on July 12, 2024, to stockholders of record as of June 28, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:48 pm

NHC

National HealthCare Corporation (NYSE:NHC) announced a 3.4% increase in its quarterly dividend, from $0.59 to $0.61 per share, payable on August 1, 2024, to shareholders of record on June 28, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:44 pm

GPI

Group 1 Automotive, Inc. (NYSE:GPI) announced a new $250M share repurchase authorization and declared a quarterly dividend increase from $0.45 to $0.47 per share. The repurchase program was increased by $161M to the new total, with 205,551 shares already bought back at an average of $264.74 each. The dividend increase is part of a 4% rise in the annualized rate from $1.80 to $1.88 per share for 2024. Repurchases are to be funded by cash from operations and held in treasury.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:42 pm

PBA

Pembina Pipeline announced a 3.4% increase in its quarterly dividend to C$0.69 per share.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:32 pm

VCTR

Victory Capital's Board has authorized a 10% increase in the quarterly cash dividend, raising it from $0.335 to $0.37, to be paid in June.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:32 pm

BERY

Berry Global Group, Inc. (NYSE:BERY) reported Q2 adjusted earnings per share of $1.95, surpassing estimates of $1.91, but its quarterly revenues of $3.076 billion fell short of the expected $3.155 billion. The company experienced a 6% year-over-year net sales decrease, primarily due to a 5% negative impact from lower resin prices and a 2% decline in volumes. Operating income dropped to $208 million from $301 million, largely due to goodwill write-offs in the Consumer Packaging International segment. Despite these challenges, Berry reaffirmed its 2024 adjusted EPS outlook of $7.35-$7.85 and expects cash flow from operations of $1.35 billion-$1.45 billion, with free cash flow of $800 million-$900 million. The company also declared a quarterly cash dividend of $0.275 per share. BERY shares fell by 2.82% to $59.53.

Portfolio Pulse from Nabaparna Bhattacharya

May 09, 2024 | 5:33 pm

NLCP

Cannabis REIT NewLake Capital Partners Inc. (NLCP) reported a 10.4% increase in Q1 2024 revenue, reaching $12.6 million. Net income and FFO also saw year-over-year increases. The company highlighted its strategic expansion, including a $4 million acquisition of a Connecticut cultivation facility and a $12 million commitment for tenant improvements. NewLake's CEO expressed optimism about the cannabis industry's future, especially with potential marijuana rescheduling. NLCP's stock was up 0.33% at $20.35 per share.

Portfolio Pulse from Patricio Liddle

May 09, 2024 | 5:25 pm

SPB

Spectrum Brands Holdings, Inc. (NYSE:SPB) reported Q2 adjusted earnings per share of $1.62, surpassing expectations of 62 cents, with sales of $718.5 million beating forecasts of $707.52 million. Despite a 1.5% decline in net sales due to reduced demand in certain categories, gross profit increased by 27.5% to $273.5 million, and adjusted EBITDA from continuing operations soared by 120.2% to $112.3 million. The company also declared a quarterly dividend of $0.42 per share and updated its FY24 outlook, expecting net sales to be flat compared to fiscal 2023 and adjusted EBITDA to increase by low double-digits.

Portfolio Pulse from Nabaparna Bhattacharya

May 09, 2024 | 4:32 pm