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Showing posts from April, 2020

Dividend Aristocrat People's United Financial raises dividend by 1.4%

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People's United Financial (PBCT) will increase its quarterly dividend by 1.4 percent this year.

Schlumberger cuts dividend by 75%

Oil services company Schlumberger (SLB) will cut its dividend by 75.0 percent to $0.125 per share in 2020. The company did raise its quarterly dividend in the last five years with the latest increase of 25% to $0.50 per share dating back to April 2015. The next dividend will be baid on July 9, 2020 to shareholders of record on June 3, 2020. The new annualized dividend rate of 50 cents per share yields 3.3% at a stock price of $15.28. In the company´s press release announcing the first quarter 2020 results Schlumberger CEO Olivier Le Peuch commented: “In view of the uncertainty of the depth and extent of the contraction in oil demand due to the COVID-19 pandemic combined with the weaker commodity price environment, we have turned our strategic focus to cash conservation and protecting our balance sheet. We have therefore taken the prudent decision to reduce our dividend by 75%. The revised dividend supports Schlumberger’s value proposition through a balanced approach of shareholder ...

Plains GP Holdings cuts distribution by 50%

Plains GP Holdings (PAGP) will cut its quarterly distribution by 50.0 percent to 18 cents per share in 2020. This follows a 20.0 percent increase last year. The next distribution will be payable on May 15, 2020 to holders of record at the close of business on May 1, 2020. A new annual rate of $0.72 per share yields 12% at current prices. Plains GP Holdings is a publicly traded entity that owns an indirect, non-economic controlling general partner interest in PAA and an indirect limited partner interest in PAA, one of the largest energy infrastructure and logistics companies in North America. PAGP is headquartered in Houston, Texas.

Plains All American Pipeline cuts distribution by 50%

Plains All American Pipeline, L.P. (PAA) will cut its quarterly distribution by 50.0 percent to $0.18 per common unit in 2020. This follows a 20.0 percent increase by the MLP last year. The next distribution will be payable on May 15, 2020 to holders of record at the close of business on May 1, 2020.A new annual rate of $0.72 per unit yields 12.0% at a stock price of $6.01 for PAA. In the company's press release announcing actions in response to industry challenges to further strengthen the company's financial position Chairman and CEO of Plains All American Willie Chiang states: “These actions include significantly reducing and continuing to challenge our capital program, reducing our distribution, progressing asset sales, and reducing costs, while remaining focused on operating safely and responsibly.” Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services ...

Autoliv suspends dividend

Autoliv (ALV) will suspend its quarterly dividend because of the COVID-19 pandemic. The company last raised its quarterly dividend by 3.3 percent to $0.62 per share in the first quarter of 2018. In today's press release the company withdraws its 2020 guidance and announces the cancellation of its quarterly dividend until the COVID-19 pandemic effects can be better assessed. The company states that is is cancelling the dividend scheduled for June 4, 2020 and suspending future dividends although the Board of Directors will review such suspension on a quarterly basis. Autoliv, Inc. is a supplier of automotive safety systems. The company manufactures and markets protective systems, such as airbags, seatbelts, steering wheels and pedestrian protection systems for all major automotive manufacturers in the world. The company's shares are listed on the New York Stock Exchange (ticker ALV) and the Swedish Depository Receipts on Nasdaq Stockholm (ALIV sdb). Autoliv had paid a divide...

Berry Corporation suspends dividend

Berry Corporation (BRY), formerly Berry Petroleum, will suspends its quarterly dividend. In its press release the company states that it will temporarily suspend its regular quarterly dividend until oil prices recover. The company initiated a quarterly dividend of 9 cents per share in August 2018 and hiked its payment once in November 2018. The last quarterly dividend of 12 cents per share will be paid on April 15, 2020. Berry is a western United States independent upstream energy company with a focus on the conventional, long-lived oil reserves in the San Joaquin basin of California. Berry Corporation became a public company as Berry Petroleum in July 2018 and had been paying a dividend since 2018 prior to the suspension announced in April 2020.

Bank Ozk hikes dividend by 3.8%

Bank OZK (OZK) will raise its quarterly dividend by 3.8 percent to $0.27 per share. This is the second dividend hike announced in 2020 by the bank holding company. Bank OZK has increased its quarterly dividend in each of the last thirty-nine quarters. The next dividend is payable April 20, 2020 to shareholders of record as of April 13, 2020. A new annualized dividend rate of $1.08 per share yields 6.7% at a stock price of $16.16. Bank OZK, formerly Bank of the Ozarks, Inc. is a bank holding company. The Company owns a state-chartered subsidiary bank that conducts banking operations in Arkansas, Georgia, North Carolina, Texas, Florida, Alabama, South Carolina, New York and California. The company's deposit services, including checking, savings, money market, time deposit and individual retirement accounts and loan services, including real estate, consumer, commercial, industrial and agricultural loans and leasing services. OZK also provides services such as mortgage lending, loc...

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