Month of May's Biggest Dividend Increase Announcements

Discover the biggest dividend increase announcements from the month of May



Sector: Consumer Defensive
Industry: Packaged Foods
Subindustry: Health Supplements

LifeVantage Corporation (LFVN) recently announced a significant boost to its dividend payout, raising it by 16.7% compared to previous quarters. The decision was made by LifeVantage’s Board of Directors, who approved a quarterly cash dividend of $0.035 per share of common stock. This increased dividend, set to be paid on June 15, 2023, will benefit all stockholders who were on record as of June 1, 2023.


Sector: Industrials
Industry: Building Products & Equipment
Subindustry: Plastics

Advanced Drainage Systems, Inc. (ADS), a leading provider of innovative water management solutions in the stormwater and on-site septic waste water industries, recently announced a 17% increase in its annual cash dividend. The Board of Directors approved a total annual dividend of $0.56 per share, reflecting Advanced Drainage Systems's robust financial position, strong cash generation, and commitment to delivering value to shareholders. This dividend increase is supported by ADS's solid balance sheet and operational excellence initiatives, which have allowed Advanced Drainage Systems to both return capital to shareholders and make strategic investments in its business. The quarterly cash dividend of $0.14 per share will be paid on June 15, 2023, to shareholders of record as of June 1, 2023.



SandRidge Energy, Inc. recently made several significant announcements. Firstly, the Board of Directors declared a one-time dividend of $2.00 per share, amounting to a total payout of approximately $74 million. This dividend will be paid on June 7, 2023, to shareholders of record on May 24, 2023. Additionally, the Board plans to initiate an ongoing quarterly dividend of $0.10 per share, expected to be first paid in August 2023 and continue every quarter thereafter. Furthermore, SandRidge Energy has authorized a stock buyback program of up to $75 million.


Sector: Financial Services
Industry: Banks—Regional
Subindustry: State Commercial Banks

Columbia Banking System, Inc. (NASDAQ: COLB), the parent company of Umpqua Bank, recently approved a 20% increase in its quarterly cash dividend to $0.36 per common share. This dividend increase reflects the solid foundation created by the merger between Columbia and Umpqua, demonstrating the strength of the combined organization. Clint Stein, the President & CEO of Columbia, emphasized the anticipated benefits of cost and revenue synergies resulting from the merger, which are expected to enhance Columbia Banking System's operating fundamentals.


Sector: Financial Services
Industry: Insurance—Diversified
Subindustry: Financial Services

American International Group, Inc. (AIG) announced strong first-quarter results, with General Insurance delivering the strongest underwriting income of $502 million. American International Group's Commercial Lines net premiums written grew 6% year-over-year or 11% on a constant dollar basis. General Insurance's combined ratio improved by 1.0 point to 91.9%, marking the fifth consecutive year of margin improvement. Life and Retirement also reported a strong quarter, with continued sales momentum and a 60-basis point improvement in base investment yield. Due to American International Group's robust performance and confidence in future earnings, the AIG Board of Directors increased the quarterly common stock dividend by 12.5% to $0.36 per share, effective in the second quarter of 2023.


Sector: Real Estate
Industry: Reit—Mortgage
Subindustry: Senior Debt

Arbor Realty Trust, a diversified real estate investment trust, recently released its first quarter 2023 financial results, showcasing solid performance and a 68% payout ratio. Arbor Realty Trust's net income for the quarter stood at $0.46 per diluted common share, while distributable earnings reached $0.62 per diluted common share, surpassing the current dividend. As a result, Arbor Realty Trust has increased its cash dividend on common stock by $0.02 to $0.42 per share, representing a 5% increase and an annualized dividend of $1.68 per share. Arbor Realty Trust's recent success is further reinforced by its substantial liquidity of approximately $785 million in cash and liquidity, along with a servicing portfolio of approximately $28.91 billion.

PX: P10, INC.

Sector: Financial Services
Industry: Asset Management
Subindustry: Asset Management

P10, Inc. (PX), a prominent private markets solutions provider, announced impressive financial results for the first quarter ended March 31, 2023. With a 23% YoY increase in Fee Paying Assets Under Management, reaching $21.6 billion, and a 32% YoY rise in revenue, amounting to $57.3 million, P10 showcased its strength in the market. Despite a 90% YoY decrease in GAAP Net Income, coming in at $.8 million, P10 reported a notable 27% YoY surge in Adjusted EBITDA, reaching $28.4 million. Adjusted Net Income also demonstrated positive growth, rising by 14% YoY to $25.5 million. Although Fully Diluted GAAP EPS experienced a decrease of 83% YoY to $.01, Fully Diluted ANI per share showed a 17% YoY increase, amounting to $.21. Reflecting this positive performance, P10's Board of Directors approved an 8% increase in the annual dividend, raising it from $.12 to $.13 per share. The quarterly cash dividend of $.0325 per share of Class A and Class B common stock will be payable on June 20, 2023, to shareholders on record as of May 30, 2023. Robert Alpert and Clark Webb, Chairman and Co-CEOs, praised P10's resilient first-quarter results, highlighting the company's ability to thrive amidst a challenging macroeconomic climate.


Sector: Utilities
Industry: Utilities—Diversified
Subindustry: Electric Utilities

Otter Tail Corporation, a diversified energy company, recently announced its financial results for the first quarter of 2023. Despite a decrease in consolidated operating revenues and net income compared to the same period last year, Otter Tail's Electric and Manufacturing segments demonstrated double-digit earnings growth. The Electric segment's earnings increased by 21% due to a new customer load and reduced pension costs, while the Manufacturing segment saw a 68% growth primarily driven by increased sales volumes and product pricing. Although the Plastics segment experienced lower earnings, this was expected due to distributor inventory management and weather conditions. Otter Tail Power, a subsidiary, filed its supplemental Integrated Resource Plan, which includes future investments in natural gas storage, solar, and wind generation. To incorporate these plans, Otter Tail increased its Electric segment's five-year capital expenditure plan by approximately $45 million, resulting in an updated earnings per share guidance range of $4.55 to $4.85 for 2023. Notably, the purchase of the Ashtabula III wind farm contributed to Otter Tail's owned generation assets. In line with these developments, the corporation's Board of Directors raised the quarterly common stock dividend to $0.4375 per share.

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