Last week, several companies announced increases in their dividend payouts, making them attractive options for investors seeking a reliable stream of income
March 7, 2023
Looking for promising dividend stocks to invest in?
Last week, several companies announced increases in their dividend payouts, making them attractive options for investors seeking a reliable stream of income. Dividend increases are a strong indicator of a company's financial health and growth potential, and can help investors to achieve their long- term financial goals.
In this post below, we take a closer look at the top 9 stocks that increased their dividends last week. Read on to learn why these stocks are worth considering for your investment portfolio.
LevelFields issues an alert prior to a significant surge of 15% in 4 days
Inter Parfums, Inc. has reported impressive results for Q4 and full-year 2022, with net sales surpassing $1 billion and all regions contributing to growth. The company's U.S. operations, in particular, have seen exceptional gains with significant sales growth across major brands.
Inter Parfums plans to introduce new products and brand extensions in 2023. Additionally, the company announced a 25% increase in its annual cash dividend rate to $2.50 per share, payable quarterly, a testament to its strong financial position and the confidence its Board of Directors has in the company's future prospects.
Inter Parfums' focus on growth opportunities within its portfolio while rewarding its shareholders makes it a promising stock to watch.
LevelFields issues an alert before a 4% stock price surge within 2 days
Solaris Oilfield Infrastructure, Inc. has announced an enhanced shareholder return program, including a 5% increase in its quarterly cash dividend to $0.11 per share and authorization of a $50 million share repurchase program. Solaris’s CEO, Bill Zartler, attributes the dividend increase to recent investments in new technology, which he expects will increase the company’s cash flow. He plans to return at least 50% of free cash flow to shareholders through dividends and share repurchases. This is Solaris’s second dividend increase and 18th consecutive quarterly dividend.
The $50 million share repurchase authorization is effective immediately and does not have a fixed expiration date. Solaris provides mobile equipment that drives supply chain and execution efficiencies in the completion of oil and natural gas wells.
LevelFields issued an alert before a substantial 8% surge in stock price within 2 days
OFS Capital Corporation, a business development company that primarily invests in privately held middle-market companies in the United States, announced a 10% increase in its quarterly dividend to $0.33 per share, payable on March 31, 2023.
The company's decision to increase the dividend was based on its solid fourth-quarter net investment income of $0.35 per share, driven by strong growth in interest income.
OFS Capital's investment portfolio has benefited from the current rising rate environment, with 94% of its loans being floating rate and 69% of its debt being fixed rate as of December 31, 2022. This, coupled with the company's focus on debt investments, positions it well to provide both current income and capital appreciation to stockholders.
LevelFields issued an alert just before the stock price reached a 5% increase in 3 days
Choice Hotels International, Inc. has recently approved a 21% increase in their quarterly cash dividend on their common stock from $0.2375 to $0.2875 per share. This increase is effective with the dividend payable on April 18, 2023, to shareholders of record on April 3, 2023.
The decision to increase their dividend comes after a successful year in 2022, where they returned over $487 million to shareholders in the form of cash dividends and share repurchases.
Choice Hotels is one of the largest lodging franchisors in the world, with nearly 7,500 hotels in 47 countries and territories. With this dividend increase, the projected annual dividend rate for CHH is $1.15 per annum.
LevelFields issued an alert before the stock price increased to .4% in 2 days
SpartanNash, a food solutions company, announced a 2.4% increase in its quarterly cash dividend, from $0.21 to $0.215 per common share. This dividend will be paid on March 31, 2023, to shareholders of record as of March 17, 2023.
SpartanNash distributes grocery and household goods across all 50 states and other locations globally, and owns and operates 147 supermarkets under banners such as Family Fare and Martin's Super Markets. The dividend increase reflects the company's commitment to its shareholders, and its strong financial performance, with net sales for 2022 up by 8.6% year-over-year.
With a current dividend yield of 2.85%, SpartanNash offers investors a stable income stream and the potential for future growth, as the company continues to innovate and expand its distribution network.
LevelFields issued an alert before a 3% increase in the stock price, in 3 days
Crescent Point Energy Corp. has announced its financial and operating results for the year ended December 31, 2022. The company generated a significant excess cash flow of around $1.2 billion due to a strong netback asset base and reduced net debt by over 40%, returning nearly $500 million to shareholders through dividends and share repurchases totaling over 5% of the float.
Crescent Point increased drilling inventory in the Kaybob Duvernay and increased NAV per share by 30 to 35 percent across all categories, replacing 113% of 2022 production on a 2P basis. The company generated strong FD&A recycle ratios, including a change in FDC, of 3.4 and 2.3 times based on PDP and 2P reserves.
Recent acquisitions and dispositions have helped the company optimize its portfolio while achieving best safety scores in its history.
The company increased its dividend by 25%, paying a first quarter dividend of $0.10 per share, and a special cash dividend of $0.032 per share based on fourth-quarter 2022 results.
LevelFields issued an alert before a significant surge in the stock price of 15% in 6 days
Steel Dynamics, Inc. announced a 25% increase in its first quarter cash dividend to $0.425 per common share. The move reflects the board's and senior leadership's confidence in the consistency and strength of the company's cash generation capabilities.
As one of the largest domestic steel producers and metals recyclers in the United States, Steel Dynamics has consistently grown its cash dividend to shareholders in alignment with its structural growth initiatives. The company's strong cash generation has given it the ability to execute significant organic and transactional strategic growth initiatives, while sustaining strong shareholder distributions and remaining committed to maintaining its investment grade credit ratings.
LevelFields sent out an alert before the stock price reached 5% in 5 days
Valmont Industries, Inc. has announced an increase to its quarterly dividend and a reauthorization of its current share repurchase program. The company's Board of Directors approved an increase in its quarterly cash dividend to $0.60 per share, a 9% increase from the prior quarterly cash dividend of $0.55 per share.
The dividend will be payable on April 14, 2023, to shareholders of record on March 31, 2023.
Valmont also approved a reauthorization of its current share repurchase program, which will be effective once the current authorization is completed, to purchase up to $400 million of its outstanding common stock.
The purchases will be funded from available cash balances and ongoing cash flows, subject to market and economic conditions. The company had approximately $81 million remaining under the current share repurchase reauthorization announced in October 2018 as of December 31, 2022.
The increase in dividend reflects the company's record financial performance in 2022 and earnings growth, as well as its commitment to enhancing shareholder value.
LevelFields sent out an alert before a stock price increase of .6% in 4 days
Farmers National Banc Corp. declared a quarterly cash dividend of $0.17 per share, representing a 6.25% increase over the same period last year. The company is a diversified financial services company headquartered in Canfield, Ohio, with $4.1 billion in banking assets.
The increase in the dividend reflects the company's strong financial performance and commitment to delivering value to shareholders. Farmers National Banc Corp. has a long history of providing banking and trust services to communities across Ohio and Pennsylvania. With total wealth management assets under care of $3.0 billion, the company is well-positioned to continue growing its business and rewarding shareholders.
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