By Sarina Isaacs
Here are the week’s hottest dividend hikes and buybacks from this past week, first covered on InvestingPro+, as companies go above and beyond to return cash to shareholders.
Dividend Hikes
McDonald's (NYSE:MCD) raised its quarterly dividend by an eye-popping 10.1% to $1.52 per share, for an annual yield of 2.5%, or $6.08. The dividend will be payable on December 15, 2022, to stockholders of record on December 1, 2022, with an ex-dividend date of November 30, 2022. Shares rose 4.2% for the week.
El Pollo Loco Holdings Inc (NASDAQ:LOCO) declared a special dividend of $1.50 per share on the common stock - as well as a new $20 million share-repurchase program. Shares spiked 20.4% for the week.
Commercial Metals Company (NYSE:CMC) raised its quarterly dividend by 14.3% to $0.16 per share, for an annual yield of 1.6%, or $0.64. The dividend will be payable on November 10, 2022, to stockholders of record on October 27, 2022, with an ex-dividend date of October 26, 2022. Shares climbed 5.5% for the week.
Tanger Factory (NYSE:SKT) Outlet Center raised its annual dividend by 10% to $0.22 per share, for an annual yield of 1.5%. The dividend will be payable on November 15, 2022, to stockholders of record on October 31, 2022, with an ex-dividend date of October 28, 2022. Shares were up 9.9% for the week.
Smith AO Corporation (NYSE:AOS) raised its quarterly dividend by 7.1% to $0.30 per share, for an annual yield of 2.4%, or $1.20. The dividend will be payable on November 15, 2022, to stockholders of record on October 31, 2022, with an ex-dividend date of October 28, 2022. Still, shares slid 1.7% for the week.
MSC Industrial (NYSE:MSM) raised its quarterly dividend by 5.3% to $0.79 per share, for an annual yield of 4.2%, or $3.16. The dividend will be payable on November 29, 2022, to stockholders of record on November 15, 2022, with an ex-dividend date of November 14, 2022. Shares added 1.5% for the week.
Thor Industries (NYSE:THO) raised its quarterly dividend by 4.7% to $0.45 per share, for an annual yield of 2.3%, or $1.80. The dividend will be payable on November 9, 2022, to stockholders of record on October 26, 2022, with an ex-dividend date of October 25, 2022. Shares jumped 7.7% for the week.
Avient Corp (NYSE:AVNT) raised its quarterly dividend by 4.2% to $0.2475, for an annual yield of 3.2%, or $0.99. The dividend will be payable on January 6, 2023, to stockholders of record on December 16, 2022, with an ex-dividend date of December 15, 2022. Still, shares lost 1.9% for the week.
Buybacks
Earthstone Energy (NYSE:ESTE), Inc. announced it had purchased 3,000,000 shares of its Class A Common Stock for a total price of approximately $44 million from certain affiliates of Warburg Pincus, LLC.
FICO (NYSE:FICO) approved a stock repurchase program of up to $500 million of its outstanding common stock, following the completion of the company’s previous stock repurchase program, which was in effect from January 2022 through October 2022.
Medical Properties (NYSE:MPW) Trust, Inc. authorized the repurchase of up to $500 million of MPT’s outstanding common stock before October 2023.