Discover the biggest dividend increase announcements from last week, May 15
Advanced Drainage Systems, Inc. (ADS), a prominent provider of innovative water management solutions in stormwater and on-site septic waste water industries, recently announced a 17% increase in its annual cash dividend, amounting to $0.56 per share. This decision reflects the company's robust financial position, impressive cash generation, and unwavering commitment to rewarding its shareholders. Under the leadership of President and CEO Scott Barbour, ADS has achieved exceptional financial performance and implemented operational excellence initiatives. This success has bolstered their confidence and financial flexibility, enabling them to distribute excess cash to shareholders while strategically investing in their business. Shareholders of record on June 1, 2023, can look forward to receiving a quarterly cash dividend of $0.14 per share on June 15, 2023.
SandRidge Energy, Inc. has recently announced several positive developments for its shareholders. The Board of Directors declared a one-time dividend of $2.00 per share, totaling approximately $74 million, which will be paid on June 7, 2023, to shareholders recorded on May 24, 2023. Additionally, the company plans to initiate an ongoing quarterly dividend of $0.10 per share, starting after the second quarter of 2023, with the first payment expected in August 2023. This decision reflects the company's commitment to providing regular returns to its shareholders. Moreover, the Board has authorized a stock buyback program of up to $75 million, demonstrating the company's confidence in its financial position and long-term prospects. These actions were made possible by the company's focus on maximizing value for its shareholders and capitalizing on attractive merger and acquisition opportunities.
Columbia Banking System, Inc. (NASDAQ: COLB), the parent company of Umpqua Bank, has recently approved a 20% increase in its quarterly cash dividend to $0.36 per common share. This dividend increase reflects the robustness of the merged entity resulting from the Columbia and Umpqua merger, which was finalized on February 28, 2023. The decision to raise the dividend signifies the solid foundation of the combined organization and its anticipated benefits from cost and revenue synergies. Clint Stein, the President & CEO of Columbia, expressed confidence in the enhanced operating fundamentals and the diversified balance sheet, positioning the company to seize flexible capital deployment opportunities in the future.
P10, a leading company in its industry, recently announced an 8% increase in its annual dividend, raising it from $.12 per share to $.13 per share. This decision reflects the company's positive performance and resilience in a challenging macroeconomic climate. During the first quarter, P10 achieved remarkable results, including a substantial increase of $911 million in fee-paying assets under management. With double-digit growth in revenue, Adjusted EBITDA, and Adjusted Net Income, the company's Board of Directors believes that P10 is strategically positioned for sustained expansion across its diverse and expanding range of businesses. The quarterly cash dividend of $.0325 per share for both Class A and Class B common stock will be disbursed on June 20, 2023, to shareholders of record as of May 30, 2023.
Stock Yards Bancorp, Inc. (SYBT), the parent company of Stock Yards Bank & Trust Company, has recently announced an increase in its dividend. The Board of Directors has declared a quarterly cash dividend of $0.29 per common share, which will be paid on July 3, 2023. This dividend increase reflects the company's commitment to delivering value to its stockholders. Additionally, the Board has extended the expiration date of the Stock Repurchase Plan, which authorizes the repurchase of one million shares, until May 22, 2025. The company has already repurchased approximately 259,000 shares, and approximately 741,000 shares are still eligible for repurchase.
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