Week in Review 31/21

 

Welcome and thanks for reading!

In this review, I will make a summary of important and interesting news and events over the last week related to my portfolio holdings. Also, I will put together some interesting articles from other websites that caught my attention during the past week.

 

 

Received Dividends:

 

 

August 2, 2021

 

• € 114.02 – AT&T Inc. (T)
• € 35.38 – Verizon Communications Inc. (VZ)
• € 22.36 – General Mills, Inc. (GIS)
• € 15.35 – Bristol-Myers Squibb Company (BMY)
• € 36.12 – CVS Health Corporation (CVS)
• € 20.75 – Edison International (EIX)
• € 71.23 – The Toronto-Dominion Bank (TD)
• € 43.69 – TC Energy Corporation (TRP)

 

August 6, 2021

 

• € 29.77 – General Dynamics Corporation (GD)

 

 

Dividend income is reported after the deduction of taxes. Check more at my Monthly Dividend sheet.

 

 

My Portfolio's Transactions:

 

 

August 4, 2021

 

• I purchased 5 shares of Lockheed Martin Corporation (LMT) at $ 362.38 per share plus commission.

 

At today's exchange rate that purchase 5 shares of LMT will increase € 32.73 of my expected annual net dividend income. My overall cost basis of this position increases from $ 335.07 to $ 342.20 per share. I totally hold now 20 shares of LMT and my yield on cost is 3.04%. After this acquisition, LMT’s weight of my portfolio is about 0.92% and its share of future annual dividend income is approximately 0.78%.

 

• I purchased 100 shares of Manulife Financial Corporation (MFC) at CA$ 23.85 per share plus commission.

 

At today's exchange rate that purchase 100 shares of MFC will increase € 56.31 of my expected annual net dividend income. My overall cost basis of this position increases from CA$ 18.57 to CA$ 20.64 per share. I totally hold now 270 shares of MFC and my yield on cost is 5.43%. After this acquisition, MFC’s weight of my portfolio is about 0.66% and its share of future annual dividend income is approximately 0.91%.

 

These two purchases will increase my portfolio's projected annual net dividend income to € 16,755.00.

 

 

Portfolio Holdings News:

 

 

August 2, 2021

 

• AT&T Inc. (T) & TPG Close DIRECTV Transaction; T and TPG Capital, the private equity platform of global alternative asset firm TPG, announced that they have closed their transaction establishing a new company named DIRECTV. T received $7.1 billion in cash ($7.6 billion net of approximately $470 million cash on hand) and transferred approximately $195 million of video business debt.

 

• Pfizer Inc. (PFE) awarded contract by U.S. Army to produce COVID-19 vaccines; The Pentagon said on Monday that the U.S. Army has awarded Pfizer (PFE) a contract valued at $3.5B to manufacture 500M doses of the vaccine developed by the company in partnership with BioNTech (NASDAQ:BNTX)

 

• Cardinal Health, Inc. (CAH) completes sale of Cordis business; CAH and Hellman & Friedman (H&F) announced today the completion of the previously announced sale of Cardinal Health's Cordis business to H&F. The sale price of approximately $1 billion includes the buyer's assumption of certain liabilities and the seller's retention of certain working capital accounts.

 

• Air Products and Chemicals, Inc. (APD) LNG Technology Selected for Nigeria LNG Train 7 Project; APD has signed an agreement with SCD JV S.c.a.r.l, a joint venture of Saipem, Chiyoda and Daewoo, for the Nigeria LNG (NLNG) Train 7 project.  The project includes one complete LNG train and one combined liquefaction unit.

 

• Omega Healthcare Investors, Inc. (OHI) Reports Second Quarter 2021 Results; OHI reports second quarter FFO of $0.85, a 4.94% increase from the previous year and $0.02 ahead of estimates. Revenue improved 0.4% to $257.4 million, $21.51 million higher than expected.

 

• Realty Income Corporation (O) Announces Operating Results For The Three And Six Months Ended June 30, 2021; O reports second quarter AFFO of $0.88, beating analyst estimates by $0.12 and increasing 4.76% year-over-year. Revenue of $464.2 million beats analyst estimates by $33.27 million and increases 12% versus the same quarter last year.

 

 

August 3, 2021

 

• Sampo plc (SAMPO) results for January – June 2021; SAMPO reports EPS of €0.99, compared with a second-quarter 2020 EPS of €0.55 and €0.06 higher than expected. Profit before taxes of €710 million beats analyst estimates by €55 million and increases 74% versus the same quarter last year.

 

• ONEOK, Inc. (OKE) Announces Second Quarter 2021 Earnings; OKE reports diluted EPS of $0.77, 141% higher than the prior year. Adjusted EBITDA increased 50% to $801.5M.

 

• WEC Energy Group, Inc. (WEC) reports second-quarter results; WEC reports GAAP EPS of $0.87, beating analyst estimates by $0.08 and increasing 14.5% year-over-year. Revenue of $1.68 billion beats analyst estimates by $80 million and increases 8.4% versus the same quarter last year.

 

• PepsiCo, Inc. (PEP) Announces Portfolio Optimization Actions For Juice Businesses In North America and Europe; PEP announced that it has entered into an agreement with PAI Partners (PAI) to sell Tropicana, Naked and other select juice brands across North America, and an irrevocable option to sell certain juice businesses in Europe, which will result in combined pre-tax cash proceeds of approximately $3.3 billion while retaining a 39% non-controlling interest in a newly formed joint venture.

 

• ConocoPhillips (COP) Second-Quarter 2021 Financial and Operational Results; COP reports Non-GAAP EPS of $0.69, compared with a second-quarter 2020 adjusted loss ($0.92) per share and $0.14 higher than expected.

 

• Lockheed Martin Corporation (LMT) Reduces Gross Pension Obligation By $4.9 Billion; LMT announced it has purchased group annuity contracts from Athene Holding Ltd. (NYSE: ATH)  to transfer approximately $4.9 billion of Lockheed Martin's pension obligations and related plan assets for approximately 18,000 U.S. retirees and beneficiaries to Athene. In connection with this transaction, the company expects to recognize a non-cash, non-operating settlement charge of approximately $1.7 billion ($1.3 billion, or $4.75 per share, after tax) in the third quarter of 2021.

 

• Eaton Corporation plc (ETN) Reports Record Second Quarter 2021 Results; ETN reports second quarter adjusted EPS of $1.72, up 98% over the second quarter of 2020 and $0.15 higher than expected. Revenue improved 35.2% to $5.22 billion, $230 million better than expected.

 

• Prudential Financial, Inc. (PRU) announces second quarter 2021 results; PRU reports GAAP EPS of $5.40, $2.63 above estimates. Book value per Common share of $160.31 versus $165.53 per share for the year-ago; adjusted book value per Common share of $104.39 versus $92.07 per share for the year-ago.

 

• Unum Group (UNM) Reports Second Quarter 2021 Results; UNM reports second quarter of fiscal 2021 adjusted earnings per share of $1.39 exceeds the analyst consensus of $1.12 and increased from $1.23 in the year-ago quarter. Second quarter total revenue of $2.99B beats the consensus estimate of $2.96B and declines from $3.02B in the year-ago quarter.

 

• Main Street Capital Corporation (MAIN) Increase Monthly Dividends; Board of Directors of MAIN declared regular monthly cash dividends of $0.21 per share for each of October, November and December 2021. This represent a 2.4% increase from the regular monthly dividends.

 

August 4, 2021

 

• Avista Corporation (AVA) Reports Financial Results for Second Quarter; AVA reports second quarter adjusted EPS of $0.20, 23.1% lower than the previous year and $0.07 lower than expected. Revenue increased 7.2% to $287.56 million, $12.48 million lower than expected.

 

• UGI Corporation (UGI) Reports Third Quarter Results; UGI reports third quarter adjusted EPS of $0.71, an 73.2% increase year-over-year and $0.66 ahead of estimates. Revenue grew 25% to $1.5 billion, topping estimates by $120 million.

 

• The Kraft Heinz Company (KHC) Reports Second Quarter 2021 Results; KHC reports second quarter adjusted EPS of $0.78, 2.5% lower than the prior year but $0.06 ahead of estimates. Revenue fell 0.5% to $6.62 billion, but topped estimates by $70 million.

 

• CVS Health Corporation (CVS) reports second quarter results; CVS reports second quarter GAAP EPS of $2.10, 7.1% lower than the prior year but $0.39 above estimates. Revenue improved 11.1% to $72.61 billion, $2.34 billion better than expected.

 

• Emerson Electric Co. (EMR) Reports Third Quarter 2021 Results; EMR reports GAAP EPS of $1.04, a 55% increase from the previous year and $0.11 better than expected. Revenue increased 20.2% to $4.7 billion, $120 million above what analysts had expected.

 

• Manulife Financial Corporation (MFC) Reports Second Quarter 2021 Results; MFC reports Non-GAAP EPS of C$0.83, 6.4% higher than the prior year and C$0.05 better than expected. New business value of C$550 million in 2Q21, an increase of 57% compared with 2Q20.

 

 

August 5, 2021

 

• QUALCOMM Incorporated (QCOM) Offers to Acquire Veoneer for $37 per Share in Cash; QCOM announced it has submitted an offer to acquire Veoneer for $37 per share, in an all-cash transaction. Our offer has been approved by Qualcomm's Board of Directors, does not require Qualcomm stockholder approval, and has no financing conditions. Offer represents an 18% premium to the Magna International Inc. (MGA) offer to acquire Veoneer.

 

• Duke Energy Corporation (DUK) reports second-quarter 2021 financial results; DUK reports second quarter Non-GAAP EPS of $1.15, 6.48% higher than the prior year and $0.04 above estimates. Revenue improved 6.3% to $5.76 billion, though this missed estimates by $50 million.

 

• Pinnacle West Capital Corporation (PNW) Reports 2021 Second-Quarter Results; PNW reports GAAP EPS of $1.91, beating analyst estimates by $0.32 and increasing 11.7% year-over-year. Revenue of $1 billion beats analyst estimates by $53.61 million and increases 7.6% versus the same quarter last year.

 

• Brookfield Renewable (BEP, BEPC) Announces Second Quarter Results; BEP reports FFO of $0.42, 5% higher than last year. Revenue improved 8.3% to $1.02 billion, $91.58 million higher than expected.

 

• Brookfield Infrastructure (BIP; BIPC) Reports Second Quarter Results; BIP reports FFO of $0.85, 18% higher than last year and $0.66 above estimates. Revenue improved 36.4% to $2.66 billion, $1.61 billion higher than expected.

 

• Cardinal Health, Inc. (CAH) reports fourth quarter and full year results for fiscal year 2021; CAH reports fourth quarter Non-GAAP EPS of $0.77, 26% lower than the prior year and $0.43 lower than expected. Revenue improved 16.1% to $42.6 billion, topping estimates $2.35 billion.

 

• Kontoor Brands, Inc. (KTB) Reports Second Quarter 2021 Results; KTB reports second quarter GAAP EPS of $0.40 compared to a loss per share of ($0.58) in the same period in the prior year and $0.20 better than expected. Revenue increased 40.5% to $490.77 million, topping estimates by $9.96 million.

 

• WestRock Company (WRK) Reports Fiscal 2021 Third Quarter Results; WRK reports adjusted EPS of $1.00, a 32% increase from the previous year and $0.03 better than expected. Revenue improved 13.4% to $4.81 billion, topping estimates $100 million.

 

• United Parcel Service, Inc. (UPS) Announces Share Repurchase Program; UPS announced that its Board of Directors has approved a new share repurchase program of $5.0 billion, replacing its existing $2.1 billion authorization.

 

• Main Street Capital Corporation (NYSE: MAIN) Announces Second Quarter 2021 Results; MAIN reports second quarter GAAP EPS of $0.62, 29.2% higher than the prior year but $0.01 lower than expected. Revenue increased 29.4% to $67.3 million, $5.23 million better than expected.

 

• VEREIT, Inc. (VER) Announces Second Quarter 2021 Operating Results; VER reports FFO of $0.81 a 8.0% increase from the prior year and $0.02 above estimates. Revenue increased 4.4% to $291.2 million, which was $1.78 million lower than expected.

 

• BCE Inc. (BCE) reports second quarter 2021 results; BCE reports Non-GAAP EPS of C$0.83, beating analyst estimates by C$0.05 and increasing 31.7% year-over-year. Revenue of C$5.7 billion, missing estimates by C$60 million, but increases 6.5% versus the same quarter last year.

 

• Inter Pipeline Ltd. (IPL) Reports Second Quarter 2021 Financial and Operating Results; IPL reports second quarter FFO of C$0.48, a 11.6% increase from the previous year. Revenue improved 30.3% to $702.9 million.

 

 

August 6, 2021

 

• Dominion Energy, Inc. (D) Announces Second-Quarter 2021 Earnings; D reports Non-GAAP EPS of $0.76, 4.1% higher than the prior year but $0.01 lower than expected. Revenue declined 2.3% to $3.04 billion, $440 million below estimates.

 

• Illinois Tool Works Inc. (ITW) Approves Dividend Rate Increase; The Board of Directors of ITW authorized a seven percent increase to the dividend payout to shareholders, representing a quarterly increase of $0.08 per share – or $0.32 per share annually – versus the current dividend rate. The dividend will be paid on Thursday, October 14, 2021, to shareholders of record as of September 30, 2021.

 

• Magna International Inc. (MGA) Announces Second Quarter 2021 Results; MGA reports earnings per share and adjusted diluted earnings per share of $1.40, compared to losses of $2.17 and $1.71 last year. Revenue improved 110.5% to $9.03 billion, but was $250 million less than expected.

 

 

Articles that caught my attention:

 

 

• Undervalued Dividend Growth Stock of the Week: Fifth Third Bancorp (FITB) by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
• Dividend Stock Watch List: Lanny’s August 2021 Edition by Lanny at Dividend Diplomats
• Pinnacle West Capital: My Recent Dividend Stock Purchase by Kody's Dividends at Seeking Alpha
• 6% Yielding Pembina Pipeline Is Best Monthly Dividend Blue-Chip Retirees Can Buy by Dividend Sensei at Seeking Alpha
• Lockheed Martin: Now Is The Time by Dividend Power at Seeking Alpha
• Stocks That Pay Dividends in October: Cash in Now! by Tom at Dividends Diversify
• 44 Dividend Champions For Further Research by Dividend Growth Investor
• Top Canadian Dividend Paying Stocks – 7 Stocks With Mouthwatering Yields by Graham at Reverse the Crush
• The Highest Quality Dividend Growth Stocks by FerdiS at Seeking Alpha
• 3 Lessor Known Dividend Kings by Dividend Power at European Dividend Growth Investor
• The Ultimate Guide To Early Retirement Through Dividend Stocks by Ben Reynolds at Sure Dividend
• Top 5 Low Yield High Dividend Growth Stocks by Derek at Engineer My Freedom
• The Clorox Company (CLX) Dividend Stock Analysis by D4L at Dividend Growth Stocks
• ViacomCBS: A Great Streaming Pick For Income Investors by Alvaro Romero at Seeking Alpha
• Becton Dickinson – Stock Analysis by Financial Freedom Is A Journey

 

 

Thanks for stopping by, have a nice next week!