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Dividend Announcement Thread!
(05-21-2020, 11:58 AM)EricL Wrote: Medtronic (NYSE:MDT) declares $0.58/share quarterly dividend, 7.4% increase from prior dividend of $0.54.

Forward yield 2.37%

Payable July 17; for shareholders of record June 26; ex-div June 25.
That's good news.  The earnings were are as horrid as I expected.  Time to get those elective surgeries going again.
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(05-21-2020, 12:02 PM)fenders53 Wrote:
(05-21-2020, 11:58 AM)EricL Wrote: Medtronic (NYSE:MDT) declares $0.58/share quarterly dividend, 7.4% increase from prior dividend of $0.54.

Forward yield 2.37%

Payable July 17; for shareholders of record June 26; ex-div June 25.
That's good news.  The earnings were are as horrid as I expected.  Time to get those elective surgeries going again.

Was more than I was expecting considering the earnings drop and elevated payout ratio.
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(05-21-2020, 01:18 PM)EricL Wrote:
(05-21-2020, 12:02 PM)fenders53 Wrote:
(05-21-2020, 11:58 AM)EricL Wrote: Medtronic (NYSE:MDT) declares $0.58/share quarterly dividend, 7.4% increase from prior dividend of $0.54.

Forward yield 2.37%

Payable July 17; for shareholders of record June 26; ex-div June 25.
That's good news.  The earnings were are as horrid as I expected.  Time to get those elective surgeries going again.

Was more than I was expecting considering the earnings drop and elevated payout ratio.
Revenues are down 20% or more in almost every category.  It wasn't good and far worse than the drug companies.  They would have been crushed if the SP wasn't depressed already.  Yeah they made the overall numbers close  enough but the accounting tricks are in play when necessary. I am bashing one of my core holdings. That wasn't pretty if you dig in past the headline.
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Super UTE comes through again.

NextEra Energy (NYSE:NEE) declares $1.40/share quarterly dividend, in line with previous.

Forward yield 2.45%

Payable June 15; for shareholders of record June 2; ex-div June 1.

https://seekingalpha.com/news/3576889-ne...0-dividend
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Ross Stores (ROST) suspends quarterly dividends

From the earnings call on 5/21/2020:

Quote:In addition, we also announced today the suspension of our quarterly dividend payments. We are also aggressively cutting costs throughout the company by minimizing non-business critical operating expenses, rightsizing our merchandise receipt and inventory plans and reducing capital expenditures to further enhance our liquidity.
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“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan


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I think that might be the first aristocrat to suspend.
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(05-21-2020, 09:54 PM)fenders53 Wrote: I think that might be the first aristocrat to suspend.

The third cut in my portfolio. Fortunately not a big yield, so the income is easily replaced.

I'm a bit surprised by the cut considering the relatively small payout and the amount of cash the company has on the balance sheet.

If discount retail ROST and TJX can't survive this, there won't be many in retail that can.

Both of them lack a presence for online sales, I suspect that was their downfall during the pandemic.
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(05-21-2020, 10:59 PM)EricL Wrote:
(05-21-2020, 09:54 PM)fenders53 Wrote: I think that might be the first aristocrat to suspend.

The third cut in my portfolio. Fortunately not a big yield, so the income is easily replaced.

I'm a bit surprised by the cut considering the relatively small payout and the amount of cash the company has on the balance sheet.

If discount retail ROST and TJX can't survive this, there won't be many in retail that can.

Both of them lack a presence for online sales, I suspect that was their downfall during the pandemic.

I think you are right on all counts.  I've shared a few concerns here and on SA for about six weeks.  Though not intentional, it's been an enormous transfer of revenue from small Biz to big box retail that happened to sell something deemed essential in their mix.  Earnings reports validate that.  I was also concerned that once the Div cuts started, it gets far more acceptable for others to cut even if it was possible to avoid it for now.  I see signs of that, though not as bad as I feared so far.  

Iowa was never completely locked-down, but mostly re-opened last week with few rules.  I live in a touristy little town that always hops, and it appears about 10% of the small businesses are permanently closed.  Many more are surely in trouble.  I'm sure that will play out in many towns.  

I think I had three Div cuts as well, but my rapid flight to quality in March spared me a few more.
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Molson-Coors (TAP) suspends the dividend. Gotta love them doing so with a weekend 8-K and no press release eh?

On May 21, 2020, the Board determined that it will suspend its regular quarterly dividends on its Class A and Class B common shares otherwise payable in the
2020 fiscal year. In addition, Molson Coors Canada Inc. also determined on May 21, 2020 that it will suspend its regular quarterly dividends on its Class A and
Class B exchangeable shares payable in the 2020 fiscal year.

The Board’s decision to suspend the dividend follows a number of other steps the Company has taken in recent weeks with the aim of protecting and bolstering the
Company’s liquidity position in response to the global economic uncertainty created by the Coronavirus pandemic. Those steps include: (i) reducing planned 2020
capital expenditures by approximately $200 million; (ii) reducing discretionary spending, limiting new hiring and decreasing marketing spend corresponding to the
current environment; (iii) furloughing certain employees in the company’s Europe business and North America hospitality businesses; (iv) shifting marketing
investments to focus on key media platforms that the Company’s consumers are at and eliminating spend that the Company believes will not deliver value in the
current environment; (v) using savings from the revitalization plan it announced in October 2019 aiming to protect the Company’s liquidity position; (vi) prudently
utilizing the Company’s $1.5 billion credit facility as necessary; and (vii) actively evaluating various European government liquidity programs potentially available
to the Company and its subsidiaries.
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Foot Locker (FL) suspends the dividend.

While Foot Locker remains committed to returning capital to shareholders, the Company's Board of Directors has decided to temporarily suspend the cash dividend beginning with the second quarter payment. The Board will continue to evaluate the dividend policy on a quarterly basis. As previously disclosed on April 22, the Company also temporarily suspended its share repurchase program.
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