Discover last week's biggest dividend increase announcements
Dividends
February 6, 2024
CF Industries Holdings, Inc. recently announced a significant boost in its quarterly dividend, now set at $0.50 per share. This marks a notable 25% increase from its previous dividend payout. The decision was ratified by its board of directors and is indicative of CF Industries Holdings's confidence in its financial position and future prospects.
CF Industries Holdings, Inc. manufactures and distributes nitrogen fertilizers and other nitrogen products worldwide. Its principal nitrogen fertilizer products include anhydrous ammonia, granular urea, urea ammonium nitrate solution, and ammonium nitrate. CF Industries Holdings also offers diesel exhaust fluid, urea liquor, nitric acid, and aqua ammonia products, as well as compound fertilizer products with nitrogen, phosphorus, and potassium. It primarily serves cooperatives, independent fertilizer distributors, traders, wholesalers, farmers, and industrial users. CF Industries Holdings was founded in 1946 and is headquartered in Deerfield, Illinois.
Dividend yield: 2.63%
Imperial Oil Limited, a leading energy company, reported strong financial results for the fourth quarter of 2023, with a net income of $1,365 million and robust operational performance across its businesses. Despite facing challenges from weaker commodity prices, Imperial showcased solid performance throughout the year. Notably, its Upstream production reached 452,000 gross oil-equivalent barrels per day, marking the highest quarterly production in over three decades. This exceptional performance, coupled with successful strategic investments such as the Grand Rapids expansion at Cold Lake and the renewable diesel facility at Strathcona refinery, contributed to its decision to increase its quarterly dividend by 20 percent, from 50 cents to 60 cents per share.
The dividend increase reflects Imperial's confidence in its ability to generate strong free cash flow across various business conditions. Throughout 2023, Imperial demonstrated its commitment to shareholders by returning over $4.9 billion through dividends and share repurchases. Additionally, Imperial released its annual Sustainability report, reaffirming its dedication to sustainability initiatives, including its net-zero goal in operations. This commitment to innovation and sustainability underscores Imperial's position as a responsible energy provider, focused on delivering value to shareholders while addressing the challenges of supplying energy in a sustainable manner.
Imperial Oil Limited, a subsidiary of Exxon Mobil Corporation, is a Canadian company engaged in the exploration, production, refining, and marketing of crude oil, natural gas, and petrochemicals. Operating through Upstream, Downstream, and Chemical segments, it explores and produces oil and gas reserves, refines crude oil, and markets a variety of petroleum products through its extensive network of Esso and Mobil-branded sites. Additionally, Imperial manufactures and sells petrochemicals and polyethylene products. Established in 1880 and headquartered in Calgary, Canada, Imperial Oil Limited remains a prominent player in the Canadian energy sector.
Dividend yield: 4.17%
Esquire Financial Holdings, Inc. recently made a noteworthy move that could catch the eyes of investors: it boosted its regular quarterly dividend by 20%, bringing it to $0.15 per share of common stock. This decision, announced by Andrew C. Sagliocca, Vice Chairman, CEO, and President, comes as a testament to Esquire's impressive performance and sustained growth in recent years. It marks the third consecutive dividend increase for Esquire Financial's stockholders since it began issuing dividends back in 2022. This increase not only reflects Esquire's financial strength but also its commitment to rewarding its investors.
Esquire Financial Holdings, Inc., headquartered in Jericho, New York, is a banking and financial solutions provider with a workforce of 74 full-time employees. Operating through its wholly owned subsidiary, Esquire Bank, National Association, Esquire Financial serves the financial needs of legal and small business communities nationwide, as well as commercial and retail customers in the New York metropolitan area. Specializing in tailored products for the legal sector and merchant services for small businesses, Esquire Bank also offers traditional banking products locally, including attorney-related loans and various deposit options such as checking, savings, money market, and certificates of deposit.
Dividend yield: 1.22%
Aflac Incorporated recently announced its first quarter dividend of $0.50 per share, payable on March 1, 2024, reflecting a 19% increase. This decision comes on the heels of the company's robust fourth quarter results, reporting net earnings of $268 million. Despite challenges like net investment losses, Aflac Inc. remains steadfast in its commitment to shareholders, evident in its capital allocation strategies. In the last quarter alone, the company repurchased 8.7 million common shares, deploying $700 million, signaling confidence in its financial health and future prospects.
The dividend increase underscores Aflac's dedication to rewarding its shareholders, backed by its strong capital position and cash flows. Chairman and CEO, Daniel P. Amos, expressed optimism about the company's trajectory, citing ongoing initiatives in both the U.S. and Japan aimed at driving growth. Particularly noteworthy is the impressive sales increase in Japan, driven by strategic alliances and new product launches. In the U.S., efforts to enhance value for policyholders and improve agent productivity continue to yield positive results, positioning Aflac for continued success. With a track record of 41 consecutive years of dividend increases, Aflac remains committed to delivering value to its shareholders while investing in future growth opportunities.
Aflac Incorporated, founded in 1955 and headquartered in Columbus, Georgia, offers supplemental health and life insurance products through its subsidiaries. Operating in two segments, Aflac Japan and Aflac U.S., Aflac provides a range of insurance options including cancer, medical, income support, and life insurance products, as well as various saving type insurance plans such as WAYS and child endowment plans in Japan, and cancer, accident, short-term disability, critical illness, and dental insurance products in the United States. Aflac distributes its products through a variety of channels including sales associates, brokers, and corporate agencies.
Dividend yield: 2.6%
MSCI Inc., a key player in offering vital decision-making tools and services for the global investment community, recently shared its financial performance for the fourth quarter and full year of 2023. Despite ongoing challenges, MSCI exhibited remarkable growth with a surge in operating revenues by 19.8% and organic revenue growth by 14.7%. Notably, MSCI's diluted EPS soared by nearly 90%, showcasing robust financial health and operational efficiency. MSCI's focus on bolstering its subscription base led to a 1.9% increase in new recurring subscription sales and an impressive retention rate of 93.6%.
The decision to increase its dividend by 15.9%, with a cash dividend of $1.60 per share declared for the first quarter of 2024, reflects MSCI's confidence in its future prospects and commitment to rewarding shareholders. This dividend boost comes on the heels of strong financial results and underscores MSCI's dedication to returning excess capital to its investors. Additionally, MSCI's strategic investments and acquisitions, aimed at enhancing value for stakeholders, alongside its prudent financial management approach, contribute to its attractiveness as a potential investment opportunity. With MSCI's consistent growth trajectory and focus on meeting evolving market demands, it remains poised for further success in the dynamic landscape of global investments.
MSCI Inc., founded in 1998 and headquartered in New York, offers investment decision support tools globally through its four segments: Index, Analytics, ESG, and Real Estate. The Index segment provides equity indexes for product creation, benchmarking, and portfolio construction. Analytics offers risk management and portfolio management services across asset classes. ESG provides products and services for understanding the impact of environmental, social, and governance factors on investments. The Real Estate segment offers performance analysis and market data for real estate investors and managers. Serving asset owners, managers, banks, and wealth managers, MSCI facilitates informed investment processes worldwide.
Dividend yield: 1.1%
OFG Bancorp just made a big move for its investors. OFG Bancorp bumped up its regular quarterly cash dividend by 13.6%, meaning shareholders will now receive $0.25 per common share instead of the previous $0.22 per share, effective for the quarter ending March 31, 2024. This decision is part of OFG's broader plan to manage its capital this year. Investors should mark their calendars for April 15, 2024, when the dividend will be paid out to those holding shares as of March 28, 2024. If you're eyeing this stock, note that the ex-dividend date is March 27, 2024. This increase reflects OFG Bancorp's confidence in its financial health and growth prospects, which could signal positive news for investors seeking steady returns.
OFG Bancorp is a financial holding company specializing in banking and financial services, operating in three key segments: Banking, Wealth Management, and Treasury. Providing a wide array of services including banking products like checking and savings accounts, lending options spanning commercial, consumer, auto, and mortgage, as well as financial planning and trust services for both corporate and individual clients. They also offer securities brokerage services, insurance agency business, retirement plan administration, and manage investment portfolios, engaging in both public offerings and private placements of debt and equity securities. Established in 1964 and headquartered in San Juan, Puerto Rico, OFG Bancorp operates through a network of 55 branches in Puerto Rico and 2 branches in USVI.
Dividend yield: 2.77%
Oshkosh Corporation, a renowned creator of specialized vehicles and equipment, unveiled its impressive financial performance for the fourth quarter of 2023. With a substantial increase in net income and earnings per share compared to the same period in 2022, Oshkosh displayed robust growth, attributing it to enhanced sales, particularly from acquisitions, and improved pricing strategies. This success is reflected in its decision to boost its quarterly cash dividend by 12 percent to $0.46, marking a decade of consecutive double-digit dividend increases.
Oshkosh's positive outlook for 2024, with expected adjusted earnings per share ranging from $10.25, underscores its confidence in sustained growth. Factors contributing to this optimistic forecast include solid demand, a record backlog, strengthened supply chains, and significant advancements in technology. Notably, Oshkosh Corporation's strategic moves, such as securing pivotal military contracts and expanding into international markets, have bolstered its position for future profitability. Moreover, its commitment to innovation, exemplified by ventures like the revolutionary battery-powered units, aligns with evolving market demands and sustainability goals.
Oshkosh Corporation, headquartered in Oshkosh, Wisconsin, is a global leader in designing, manufacturing, and marketing specialty vehicles and vehicle bodies. Its Access Equipment segment specializes in aerial work platforms, telehandlers, towing, recovery equipment, and related financing services. The Defense segment focuses on tactical wheeled vehicles for the Department of Defense, while the Fire & Emergency segment offers firefighting and emergency response vehicles and equipment. The Commercial segment provides concrete mixers, refuse collection vehicles, and truck-mounted cranes for various industries. With a history dating back to 1917, Oshkosh Corporation serves its customers through direct sales, dealers, and distributors worldwide.
Dividend yield: 1.64%
Shutterstock, Inc., a global hub for creative content, shared some exciting news recently. Shutterstock's Board of Directors approved a 11% hike in its quarterly dividend, bumping it up from $0.27 to $0.30 per share. This decision comes hot on the heels of solid growth in operating profitability and cash flow, according to Paul Hennessy, the CEO of Shutterstock, Inc.
Hennessy expressed his satisfaction with the increase, highlighting Shutterstock's dedication to delivering value to its shareholders. This move reflects Shutterstock's confidence in its financial health and its ability to sustain growth. The dividend increase underscores Shutterstock's commitment to rewarding investors while maintaining a healthy balance between reinvesting in the business and providing returns to shareholders.
Shutterstock, Inc. is a global technology company offering a wide array of content, tools, and services worldwide. Their offerings include a vast library of images, videos, and music tracks utilized in various visual communications such as marketing materials, websites, and cinematic productions. Operating under multiple brand names like Bigstock and Offset, Shutterstock provides advanced search capabilities and workflow-enhancing tools to cater to the needs of marketing professionals, media companies, and small to medium-sized businesses. Established in 2003 and headquartered in New York, Shutterstock, Inc. remains at the forefront of digital content provision.
Dividend yield: 2.67%
Some data was sourced from LevelFields.AI
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