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6 big dividends this week: Public Storage payout rockets 50%

Investing.com
·3-min read

By Davit Kirakosyan

Investing.com -- Here are some of the biggest dividend hikes and special dividends that you may have missed on InvestingPro this past week. Sign up for real-time dividend coverage.

Public Storage goes big

Over the weekend, Public Storage (NYSE:PSA) hiked its dividend by 50% to $3.00 per share, or $12 annualized, for an annual yield of 3.9%. The dividend will be payable on March 30, 2023, to stockholders of record on March 15, 2023, with an ex-dividend date of March 14, 2023.

The company has also unveiled an $11 billion hostile bid for Life Storage (NYSE:LSI). The all-stock deal would give Life Storage shareholders 0.4192 Public Storage shares per Life Storage share, equating to $129.3/share. The proposed deal, including debt, values Life Storage at $15B, making it one of 2023's largest takeovers.

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Public Storage intends to release its Q4 earnings results after the market close on Tuesday, February 21, 2023.

Ford's meaty special dividend

Ford (NYSE:F) declared a special dividend of $0.65 per share for an annual yield of 4.5%. The dividend will be payable on March 1, 2023, to stockholders of record on February 13, 2023, with an ex-dividend date of February 10, 2023.

Ford shares plunged more than 7% on Friday as the company’s Q4 profits fell and it predicted a difficult year ahead.

Q4 EPS came in at $0.51, worse than the consensus estimate of $0.62. Revenue was $44 billion, beating the consensus estimate of $41.87B.

NXP, Quest, and another 2 sizable payout hikes

NXP Semiconductors (NASDAQ:NXPI) hiked its dividend by 20% to $1.014 per share, or $4.056 annualized, for an annual yield of 2.3%. The dividend will be payable on April 5, 2023, to stockholders of record on March 15, 2023, with an ex-dividend date of March 14, 2023.

The company reported its Q4 results, with in-line revenues of $3.31B but a significant EPS miss. For Q1/23, the company expects EPS in the range of $2.82-$3.22, compared to the consensus of $3.09. Revenue is expected in the range of $2.9-3.1B, missing the consensus estimate of $3.17B.

Quest Diagnostics Incorporated (NYSE:DGX) hiked its dividend by 7.6% to $0.71 per share, or $2.84 annualized, for an annual yield of 1.8%. The increase is effective with the dividend payable on April 24, 2023 to shareholders of record of Quest Diagnostics common stock on April 10, 2023. The company has raised its dividend annually since 2011.

Additionally, the Board of Directors has increased the company's share repurchase authorization by $1 billion.

Invitation Homes (NYSE:INVH) hiked its dividend by 18.2% to $0.26 per share, or $1.04 annualized, for an annual yield of 3.1%. The dividend will be payable on February 28, 2023, to stockholders of record on February 14, 2023, with an ex-dividend date of February 13, 2023.

The company will report its Q4 earnings on February 15 after the market closes.

Magnolia Oil & Gas (NYSE:MGY) hiked its dividend by 15% to $0.115 per share, or $0.46 annualized, for an annual yield of 2%. The dividend will be payable on March 1, 2023, to stockholders of record on February 10, 2023, with an ex-dividend date of February 9, 2023.

The company will report its Q4 earnings on February 14 after the market closes.

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For rapid-fire, comprehensive coverage of dividends, buybacks, and all the biggest news that matters to investors, try InvestingPro.

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