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6 big dividends: Apple hikes by a penny; Enviva eliminates its payout

Published 2023/05/08, 12:18
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By Davit Kirakosyan

Investing.com -- Here is your Pro Recap of the biggest fresh dividend hikes/suspensions and special dividends you may have missed last week: hikes at Apple, Pepsico , and AIG; a special dividend at LMP Automotive; a dividend suspension at Enviva; and an 80% payout cut at Paramount.

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Apple hikes dividend, announces stock buyback & beats Q1

Apple (NASDAQ:AAPL) hiked its dividend by 4.3% to $0.24 per share, or $0.96 annualized, for an annual yield of 0.6%. The dividend will be payable on May 18, 2023, to stockholders of record on May 15, 2023, with an ex-dividend date of May 12, 2023.

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Furthermore, the company authorized an additional $90 billion stock repurchase program. The Q1/23 earnings results last week beat the consensus estimates, highlighted by stronger-than-expected iPhone sales. As a result, shares surged more than 4% on Friday.

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Enviva stock crashes after dividend elimination & guidance cut

Enviva (NYSE:EVA) shares plummeted 67% on Thursday after the company eliminated its quarterly dividend and cut its full-year guidance, news reported in real time by InvestingPro.

The dividend suspension is expected to save about $1B in the 2023-2026 period. For 2023, the company now expects a net loss of $161 million, down from the prior forecast of a $33M loss. Adjusted EBITDA is expected to be $225M, below the prior estimate of $320M.

After partially recovering on Friday, shares closed the week with more than a 58% loss.

Paramount Global cuts dividend by 80%, reports weak Q1 earnings

Paramount Global (NASDAQ:PARA) shares plunged more than 28% on Thursday after the company reported soft Q1 results amid a weak advertising market in its TV business, and reduced its quarterly dividend by 80% to $0.05 per share. The dividend cut is expected to result in approximately $500M in annualized cash savings.

Two more hikes & one special dividend

PepsiCo (NASDAQ:PEP) hiked its dividend by 10% to $1.265 per share, or $5.06 annualized, for an annual yield of 2.6%. The dividend will be payable on June 30, 2023, to stockholders of record on June 2, 2023, with an ex-dividend date of June 1, 2023.

AIG (NYSE:AIG) hiked its dividend by 12.5% to $0.36 per share, or $1.44 annualized, for an annual yield of 2.9%. The dividend will be payable on June 30, 2023, to stockholders of record on June 16, 2023, with an ex-dividend date of June 15, 2023.

LMP Automotive (OTC:LMPX) declared a special dividend of $1.24 per share, for an annual yield of 14.7%. The dividend will be payable on May 8, 2023, to stockholders of record on April 29, 2023, with an ex-dividend date of April 27, 2023.

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