Discover last month's biggest dividend increases
Dividends
January 2, 2024
Korn Ferry, a global organizational consulting firm, faced a challenging macroeconomic environment in Q2 FY'24, reporting a 3% YoY decrease in fee revenue. Despite this, CEO Gary D. Burnison expressed pride in Korn Ferry's resilience, highlighting the 14% Adjusted EBITDA margin. Notably, Consulting and Digital businesses contributed nearly 40% to the top line, achieving all-time high revenue in constant currency.
On December 5, 2023, Korn Ferry boosted its regular quarterly cash dividend by a robust 83% to $0.33 per share, payable on January 12, 2024. This strategic move reflects Korn Ferry's confidence in navigating economic uncertainties. The dividend increase is noteworthy, signaling Korn Ferry's commitment to shareholder value amid challenging times.
Analyzing the financials, Korn Ferry's net loss of $1.7 million in Q2 FY'24, inclusive of restructuring charges, reflects efforts to realign the workforce. The diversified revenue streams, including strong wins in Recruitment Process Outsourcing (RPO), contribute to the overall resilience. Despite challenges, Korn Ferry's dividend hike suggests confidence in its future performance and commitment to shareholders' interests.
Korn Ferry, a global organizational consulting firm and its subsidiaries, specializes in executive search services across various sectors, including industrial, financial services, life sciences/healthcare, consumer, technology, and education/non-profit. With a comprehensive range of offerings, Korn Ferry assists clients in filling executive-level positions while also providing organizational strategy, assessment, succession planning, leadership development, and rewards and benefits services. Additionally, Korn Ferry offers Recruitment Process Outsourcing (RPO), project recruitment, and individual professional search solutions. Founded in 1969 and headquartered in Los Angeles, California, Korn Ferry serves a diverse client base, encompassing public and private companies, middle market and emerging growth entities, as well as government and non-profit organizations.
Dividend yield: 2.22%
Korn Ferry's stock rose 15% in 2 weeks from the time LevelFields.AI sent the alert
Lamb Weston Holdings, Inc. recently announced a significant 29% increase in its quarterly dividend, now standing at $0.36 per share of Lamb Weston common stock. This move reflects Lamb Weston's dedication to its capital allocation strategy and a strong track record of delivering returns for shareholders, as highlighted by President and CEO Tom Werner.
This enhanced dividend is a positive signal for investors, emphasizing Lamb Weston's commitment to rewarding its shareholders. If you're considering adding Lamb Weston to your portfolio, this development could be a noteworthy factor. The dividend increase not only speaks to Lamb Weston's financial health but also suggests confidence in its future prospects. Keep an eye on Lamb Weston as it continues to navigate the market, with the dividend payable on March 1, 2024, to stockholders of record as of February 2, 2024.
Lamb Weston Holdings, Inc. produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. Lamb Weston offers frozen potatoes, sweet potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as various customer labels. Lamb Weston also offers its products under its owned or licensed brands, such as Grown in Idaho and Alexia, and other licensed brands, as well as under retailers'' own brands. In addition, it engages in the vegetable and dairy businesses. Lamb Weston serves retail and foodservice customers; grocery, mass, club, and specialty retailers; and businesses, independent restaurants, regional chain restaurants, and convenience stores, as well as educational institutions. Lamb Weston Holdings, Inc. was founded in 1950 and is headquartered in Eagle, Idaho.
Dividend yield: 1.33%
Lamb Weston Holdings, Inc.'s stock rose 3.6% in 2 weeks from the time LevelFields.AI sent the alert
American Eagle Outfitters, the popular retail company, recently boosted its quarterly cash dividend by an impressive 25%, demonstrating enhanced financial stability and increased free cash flow throughout 2023. This positive move aligns with AEO's robust balance sheet and highlights confidence in their strategic direction for the upcoming year.
Jay Schottenstein, AEO's Executive Chairman and CEO, expressed his satisfaction with the dividend increase, emphasizing American Eagle Outfitters's commitment to delivering sustained profitable growth and returns to shareholders. This decision is a clear reflection of AEO's improved fundamentals, and investors can look forward to a regular quarterly cash dividend of $0.125, payable on January 19, 2024. This announcement is a testament to American Eagle Outfitters's dedication to providing value to its shareholders, making American Eagle Outfitters a compelling stock to watch for those interested in potential dividend prospects and long-term growth.
American Eagle Outfitters, Inc. is a specialty retail company known for its American Eagle and Aerie brands, offering a range of clothing, accessories, and personal care products. Catering to both men and women, American Eagle Outfitters provides jeans, specialty apparel, intimates, activewear, swimwear, and personal care items. With additional brands like Tailgate and Todd Snyder New York, American Eagle Outfitters operates over 940 American Eagle stores, 148 Aerie stand-alone stores, 5 Tailgate stores, and two Todd Snyder stores across the United States, Canada, Mexico, China, and Hong Kong. Serving a global market, it ships to 81 countries through its websites and operates in 24 countries through licensee-operated locations. Founded in 1977, American Eagle Outfitters is headquartered in Pittsburgh, Pennsylvania.
Dividend yield: 2.36%
Occidental Petroleum Corporation, a Houston-based energy giant, is making waves in the industry with its recent acquisition of CrownRock L.P., a move valued at a staggering $12.0 billion. This strategic purchase is set to significantly boost Occidental's presence in the Midland Basin, thanks to CrownRock's well-positioned assets and a development-ready inventory that complements Occidental's premier Permian Basin portfolio.
The acquisition is not just about scale; it's a game-changer for Occidental's financial landscape. The deal is expected to generate immediate free cash flow accretion and contribute to an impressive 22% increase in the quarterly dividend, now standing at $0.22 per share. This dividend bump reflects Occidental's confidence in the value the acquisition brings to shareholders.
The synergies are evident – CrownRock's strong track record in safe and efficient operations, coupled with Occidental's expertise, positions the combined entity for long-term success. Occidental President and CEO Vicki Hollub expressed excitement about the acquisition, emphasizing the immediate free cash flow accretion and the strategic fit that CrownRock provides.
Occidental Petroleum Corporation, established in 1920 and headquartered in Houston, Texas, is a leading player in the oil and gas industry. Occidental Petroleum, along with its subsidiaries, focuses on the acquisition, exploration, and development of oil and gas properties across the United States, the Middle East, and Latin America. Operating through three segments—Oil and Gas, Chemical, and Marketing and Midstream—Occidental engages in the exploration, development, and production of oil, condensate, natural gas liquids, and natural gas. Additionally, the Chemical segment manufactures and markets various basic chemicals, while the Midstream and Marketing segment handles the gathering, processing, transportation, storage, and marketing of a diverse range of energy-related products.
Dividend yield: 1.21%
Occidental Petroleum Corporation's stock rose 7.7% in 15 days from the time LevelFields.AI sent the alert
Zoetis Inc. is boosting its dividend by 15%, with a new payout of $0.432 per share for Q1 2024, compared to the previous year. This increase reflects Zoetis' strong performance, driven by its diverse and innovative product range.
According to Wetteny Joseph, Zoetis' Executive Vice President and CFO, Zoetis's success this year stems from its robust product portfolio. The decision to hike the dividend is a testament to Zoetis' dedication to delivering value to its shareholders by returning excess capital.
Zoetis Inc. is a global leader in animal health, specializing in the discovery, development, manufacturing, and commercialization of a wide range of medicines, vaccines, and diagnostic products. With a focus on both livestock and companion animals, including cattle, swine, poultry, fish, dogs, cats, and horses, Zoetis offers a diverse portfolio. Their products encompass vaccines, anti-infectives, parasiticides, and other pharmaceuticals addressing various health needs in animals. In addition, Zoetis provides diagnostic tools, portable analysis systems, and non-pharmaceutical offerings such as nutritionals and agribusiness services. Established in 1952 and headquartered in Parsippany, New Jersey, Zoetis serves veterinarians, livestock producers, and retail outlets globally through a network of sales representatives and specialists.
Dividend yield: .88%
Zoetis Inc.'s stock rose 10% in a week from the time LevelFields.AI sent the alert
Owens Corning just announced a 15% increase in its fourth-quarter cash dividend, bumping it up to $0.60 per common share. If you're holding OC stocks, you'll be pleased to know that this higher dividend will be heading your way on January 19, 2024, as long as you're on the shareholder record by January 8, 2024.
Owens Corning, founded in 1938 and headquartered in Toledo, Ohio, is a global company specializing in the production and sale of glass fiber reinforcements and other composite materials, as well as residential, commercial, and industrial building materials. Owens Corning operates in three segments: Composites, which manufactures and sells glass reinforcements for various applications; Insulation, producing fiberglass insulation for thermal and acoustical purposes; and Roofing, manufacturing residential roofing shingles, oxidized asphalt materials, and roofing components. Owens Corning's diverse product range serves markets such as building and construction, transportation, consumer goods, industrial, and power and energy.
Dividend yield: 1.62%
Owens Corning's stock rose 8.4% in a week from the time LevelFields.AI sent the alert
Eli Lilly and Company is making headlines with a robust 15% increase in its quarterly dividend, now set at $1.30 per share for Q1 2024. This move reflects Eli Lilly and Company's solid financial outlook and confidence in its future. The dividend payout, scheduled for March 8, 2024, benefits shareholders of record as of February 15, 2024.
Recent developments have significantly contributed to Eli Lilly's positive stance. Notably, the FDA approval for Jaypirca, a treatment for chronic lymphocytic leukemia or small lymphocytic lymphoma, adds a promising asset to Eli Lilly and Company's portfolio. In the previous quarter, Eli Lilly reported Q3 sales of $9.49 billion, surpassing expectations with a 37% YoY increase. The growth was fueled by the success of weight loss drugs like Mounjaro, Verzenio, and Jardiance.
Despite adjusting its FY23 adjusted EPS to $6.50-$6.70, down from the previous guidance of $9.70-$9.90, Eli Lilly remains optimistic, reaffirming its FY23 revenue forecast at $33.4-$33.9 billion. The dividend boost aligns with Eli Lilly and Company's strategic positioning and promising performance in key areas of its business.
Eli Lilly and Company, founded in 1876 and headquartered in Indianapolis, is a global pharmaceutical company specializing in the discovery, development, manufacturing, and marketing of a diverse range of pharmaceutical products. Eli Lilly and Company's extensive portfolio includes offerings in endocrinology for diabetes and growth-related conditions, neuroscience for various mental health disorders, immunology for diseases like rheumatoid arthritis and psoriasis, oncology for a wide spectrum of cancers, and treatments for conditions such as erectile dysfunction and benign prostatic hyperplasia. Eli Lilly collaborates with leading organizations, including Incyte Corporation, Pfizer Inc., and Junshi Biosciences, to advance innovative solutions, such as therapeutic antibodies for COVID-19 prevention and treatment.
Dividend yield: .89%
ATN International, Inc. recently made strategic moves to benefit its investors. The Board of Directors greenlit an increase in quarterly dividends by 14%, now standing at $0.24 per share, up from $0.21. This decision aligns with ATN's completion of the final phase of its three-year infrastructure expansion plan, emphasizing a commitment to rewarding shareholders.
CEO Michael Prior highlighted ATN International's confidence in their strategic plan, which has generated robust operating cash flows and sustainable growth. The Board's approval to expand the share repurchase program to $25 million underscores their positive outlook. This move reflects ATN's dedication to a balanced capital allocation strategy, aiming for the highest total return for shareholders through acquisitions, internal investments, share repurchases, and dividends. Investors can anticipate a payout on January 5, 2024, with record date as of December 31, 2023. ATN continues to navigate market conditions and manage its net debt position prudently in this shareholder-centric approach.
ATN International, Inc., a telecommunications company and its subsidiaries, deliver a range of services across North America, the Caribbean, Bermuda, and India. Operating in three segments—International Telecom, US Telecom, and Renewable Energy—ATN International provides wireless and wireline services, including voice, data, and video services to retail and commercial customers in various locations. Additionally, it offers managed IT services, wholesale long-distance voice services, and renewable energy solutions through distributed generation solar power. Formerly known as Atlantic Tele-Network, Inc., ATN International rebranded as ATN International, Inc. in June 2016, since its founding in 1987. With headquarters in Beverly, Massachusetts, ATN International serves diverse markets, embodying a comprehensive approach to telecommunications and renewable energy solutions.
Dividend yield: 2.46%
ATN International, Inc.'s stock rose 18% in 2 weeks from the time LevelFields.AI sent the alert
Quanta Services, Inc. just boosted its quarterly cash dividend by about 12.5%, now standing at $0.09 per share or $0.36 annually. If you're a shareholder, you'll be happy to know that this increased dividend is set to be paid on January 12, 2024. The Board of Directors made this decision as a testament to Quanta Services's financial strength and positive outlook. This move could be attributed to Quanta's robust performance and recent developments in the industry. So, if you're looking for promising dividend prospects and a solid stock, Quanta Services might just be the right pick for your portfolio.
Quanta Services, Inc. is a leading provider of specialty contracting services worldwide, with a focus on Electric Power Infrastructure Services and Pipeline and Industrial Infrastructure Services. Operating in the United States, Canada, Australia, Latin America, and beyond, Quanta Services designs, installs, upgrades, and maintains electric power transmission and distribution infrastructure, substation facilities, and commercial/industrial wiring. Additionally, it offers emergency restoration services, smart grid technology installations, and supports the development of solar, wind, and natural gas generation facilities. In the Pipeline and Industrial Infrastructure Services segment, Quanta Services specializes in designing, installing, and maintaining various pipeline and industrial systems, including trenching, directional boring, welding, and related services. Founded in 1997 and headquartered in Houston, Texas, Quanta Services serves a diverse range of clients in the electric power, energy, communications, commercial, industrial, and governmental sectors.
Dividend yield: .17%
Quanta Services, Inc.'s stock rose 13.5% in 2 weeks from the time LevelFields.AI sent the alert
Host Hotels & Resorts, Inc. is boosting its dividends, showing a strong commitment to shareholder value. The board of directors recently approved a noteworthy 11% increase in the regular quarterly cash dividend, now standing at $0.20 per share. Moreover, shareholders will enjoy an extra treat with a special dividend of $0.25 per share, bringing the total annual dividends to a promising $0.90 per share. This move not only reflects Host Hotels & Resorts's financial health but also underscores its confidence in future earnings.
The decision to enhance dividends might be attributed to Host Hotels & Resorts, Inc.'s solid performance and positive outlook. As the largest lodging real estate investment trust in the nation, Host Hotels & Resorts seems to be capitalizing on recent developments in the hospitality industry. With the dividends payable on January 16, 2024, investors have something to look forward to in the upcoming year. This move by Host Hotels & Resorts, Inc. positions the stock as an attractive option for those seeking stable returns and signals optimism in Host Hotels & Resorts's growth trajectory.
Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. Host Hotels & Resorts currently owns 74 properties in the United States and five properties internationally totaling approximately 46,100 rooms. Host Hotels & Resorts also holds non-controlling interests in six domestic and one international joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, Host Hotels & Resorts partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, The Luxury Collection®, Hyatt®, Fairmont®, Hilton®, Swissôtel®, ibis® and Novotel®, as well as independent brands.
Dividend yield: 9.25%
Host Hotels & Resorts, Inc.'s stock rose 5.3% in 12 days from the time LevelFields.AI sent the alert
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