Streetbeat News

Dividends

C

JPM

MS

WFC

US banks JPMorgan Chase & Co, Wells Fargo & Co, and Morgan Stanley plan to raise their quarterly dividends after passing the Federal Reserve's annual stress test. JPMorgan intends to increase its dividend to $1.05 per share from $1.00, and Wells Fargo plans to raise its dividend to 35 cents per share from 30 cents. Citigroup Inc also suggested a rise in its quarterly dividend by two cents.

Portfolio Pulse from Bibhu Pattnaik

July 01, 2023 | 5:03 pm

MS

Morgan Stanley (NYSE:MS) has announced an increase in its quarterly common stock dividend from $0.775 to $0.85 per share, starting from Q3 2023. The firm's board has also reauthorized a multi-year common equity share repurchase program of up to $20 billion, without a set expiration date, beginning in Q3 2023. The decisions were made following the results of the Federal Reserve's stress test, which demonstrated the durability of Morgan Stanley's business model.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 8:40 pm

BK

BNY Mellon (NYSE:BK) plans to increase its quarterly cash dividend on its common shares by 14% from $0.37 to $0.42 per share, starting from the third quarter of 2023, subject to board approval. The Federal Reserve's 2023 bank stress test results showed BNY Mellon's resilience and strong capital position. The company's Stress Capital Buffer (SCB) requirement will remain at 2.5%, equal to the regulatory floor, effective from October 1, 2023, to September 30, 2024. BNY Mellon continues to be authorized to repurchase common shares under its existing share repurchase program.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 8:39 pm

STT

State Street Corporation (NYSE:STT) has announced its preliminary stress capital buffer (SCB) requirement of 2.5%, effective October 1, 2023, and plans to increase its common stock dividend by 10% to $0.69 in Q3 2023, subject to board approval. The company also intends to continue share repurchases under its existing authorization for up to a total of $4.5 billion in 2023, subject to market conditions. The company's SCB under this year's supervisory stress test was well below the 2.5% minimum, maintaining its common equity tier 1 (CET1) ratio requirement at 8%.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 8:37 pm

WFC

Wells Fargo has announced plans to increase its Q3 2023 dividend from $0.30 to $0.35.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 8:32 pm

GIS

General Mills Inc (NYSE:GIS) reported a dip in revenue this fiscal year due to higher carrying costs of inventory and larger customers managing their balance sheets. Fiscal fourth quarter volumes dropped by 8% and 2% in the North America Retail and Pet divisions respectively. Despite the dip, General Mills reported fourth-quarter fiscal 2023 sales growth of 3% year-on-year, clocking $5.03 billion. The company currently has a dividend yield of 3.08%.

Portfolio Pulse from AJ Fabino

June 30, 2023 | 3:37 pm

AMR

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IPI

ORGN

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The article discusses value stocks in the basic materials sector, highlighting five companies: Alpha Metallurgical, Intrepid Potash, Reliance Steel & Aluminum, Ferroglobe, and Origin Mat. These companies have low P/E multiples, indicating they may be undervalued. The article also provides Q1 earnings per share and dividend yield data for each company.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 2:48 pm

BDN

Brandywine Realty Tr (NYSE:BDN) has announced a quarterly dividend of 19 cents per share. The ex-dividend date is Wednesday, meaning the stock will likely open 19 cents lower to reflect the payout. Shareholders who own BDN as of the end of Tuesday's session are eligible to receive the dividend, which will be paid out on July 20, 2023.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 2:46 pm

ABM

ABM Indus (NYSE:ABM) has announced a quarterly dividend of 22 cents per share, payable on August 07, 2023. To be eligible for the dividend, shareholders must own the stock before the ex-dividend date, which is Wednesday. The stock will likely open 22 cents lower on Wednesday to reflect the payout.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 2:46 pm

ACM

AECOM (NYSE:ACM) has announced a quarterly dividend of 18 cents per share. The stock will go ex-dividend on Wednesday, meaning it will trade lower to reflect the payout. Shareholders must own the stock prior to the ex-dividend date to be eligible for the dividend. The dividend will be paid out on July 21, 2023.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 2:46 pm