🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

5 big dividends & buybacks: Big Lots suspends payout, Tegna hikes by 20%

Published 30/05/2023, 12:22
© Reuters.
JPM
-
MET
-
BIG
-
DCI
-
IEX
-
TGNA
-

By Davit Kirakosyan

Here is your Pro Recap of the biggest fresh dividend hikes, suspensions, and stock buybacks you may have missed last week: dividend suspension at Big Lots, hikes at Tegna, Donaldson, and IDEX, and stock buyback increase at MetLife.

InvestingPro subscribers got these headlines in real time. Start your 7-day free trial.

Big Lots suspends dividend, misses Q1 earnings

Big Lots (NYSE:BIG) shares plunged more than 13% on Friday after the company reported a Q1 miss and suspended its dividend, as InvestingPro reported in real time.

The company reported weaker-than-expected Q1 results and issued a disappointing outlook as macroeconomic headwinds have created significant challenges for the company.

Tegna announces $300M ASR, hikes dividend by 20%

Tegna (NYSE:TGNA) announced a $300 million accelerated share repurchase (ASR) program with JPMorgan (NYSE:JPM) and a nearly 20% dividend hike after merger termination with Standard General.

The company hiked its quarterly dividend by 19.7% to $0.11375 per share, or $0.455 annualized, for an annual yield of 2.9%. The dividend will be payable on July 3, 2023, to stockholders of record on June 9, 2023, with an ex-dividend date of June 8, 2023.

MetLife announces $19.2B risk transfer transaction, increases share buyback by $1B

MetLife (NYSE:MET) shares surged around 5% on Thursday after the company announced it has entered into an agreement with Global Atlantic Financial Group to reinsure approximately $19.2 billion of U.S. retail universal life, variable universal life, universal life with secondary guarantees, and fixed annuity statutory reserves.

The company also approved a $1B increase in its share repurchase authorization, which brings the total share repurchase authorization outstanding to roughly $4B.

2 more dividend hikes

Donaldson (NYSE:DCI) hiked its quarterly dividend by 8.7% to $0.25 per share, or $1 annualized, for an annual yield of 1.6%. The dividend will be payable on June 23, 2023, to stockholders of record on June 7, 2023, with an ex-dividend date of June 6, 2023.

IDEX (NYSE:IEX) hiked its quarterly dividend by 6.7% to $0.64 per share, or $2.56 annualized, for an annual yield of 1.3%. The dividend will be payable on June 23, 2023, to stockholders of record on June 9, 2023, with an ex-dividend date of June 8, 2023.

Get a leg up on the market: Always be the first to know with InvestingPro.

Start your free 7-day trial now.

InvestingPro | Be The First To Know

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.