Discover the companies that boosted their dividends last month, April
May 1, 2023
LiveOne (Nasdaq: LVO), the creator-first music, entertainment, and technology platform, has recently increased its dividend to PodcastOne shareholders of record to between 12% and 16%. The increase comes as a result of PodcastOne repaying $1 million of its debt convertible at $3 and expecting to repay an additional $1 million to $2 million. LiveOne's buyback has also exceeded 2,245,000 shares to date, leaving capacity to repurchase an additional $1,600,000 worth of shares. The company has extended its record date to April 20, 2023.
Comfort Systems USA, Inc. (FIX) has announced a quarterly dividend of $0.20 per share, which represents a $0.025 increase from its most recent dividend. The company is a leading provider of commercial, industrial, and institutional heating, ventilation, air conditioning, and electrical contracting services. The dividend is payable on May 29, 2023, to stockholders of record at the close of business on May 18, 2023. The increase in dividend could be attributed to the company's strong financial performance and its commitment to delivering value to its shareholders.
Ovintiv (OVV) recently announced that it will acquire leasehold interests and related assets of Black Swan Oil & Gas, PetroLegacy Energy, and Piedra Resources, portfolio companies of EnCap Investments, in a cash and stock transaction valued at approximately $4.275 billion. The acquisition will add approximately 1,050 net 10,000 foot well locations to Ovintiv's Permian inventory and approximately 65,000 net acres in the core of the Midland Basin. In April 2023, Ovintiv's Board of Directors declared a quarterly dividend of $0.30 per share of common stock, representing a 20% increase in the Company's base dividend payment on an annualized basis. This is the second increase announced by Ovintiv in the last 12 months.
FirstCash Holdings, Inc. (FCFS) has announced that it will be increasing its quarterly cash dividend by $0.03 to $0.33 per share. The leading international operator of retail pawn stores and provider of retail point-of-sale payment solutions saw double-digit consolidated revenue growth and record first quarter earnings per share, resulting in an outstanding operating performance. The company invested in new pawn locations, opened 14 new stores in Latin America, and acquired three U.S. locations, all funded from operating cash flows.
The Travelers Companies, Inc. reported a net income of $975 million in Q1 2023, with a 17.5% return on equity. Despite higher catastrophe losses and lower net favorable prior year reserve development, the company's core income was $970 million. The Board of Directors declared an 8% increase in the regular quarterly cash dividend to $1.00 per share and authorized an additional $5.0 billion of share repurchases. The dividend is payable on June 30, 2023, to shareholders of record on June 9, 2023. This increase is attributed to the company's strong performance, including a record net written premium of $9.396 billion and an underlying combined ratio of 90.6%.
The First Bancshares, Inc. (FBMS), the holding company for The First Bank, recently reported its financial results for the quarter ended March 31, 2023. The company closed its acquisition of Heritage Southeast Bancorporation, Inc. in January 2023, which increased its presence in Southern Georgia and provided entry into the fast-growing markets of Atlanta, Savannah, and Jacksonville. The acquisition added approximately $1.6 billion of assets and twenty-four locations to the company. As a result of the strong quarter, the company's Board of Directors declared a cash dividend of $0.22 per share, which is a 5% increase over the previous quarter.
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