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:
May 23, 2022
- € 32.63 – Lazard Ltd (LAZ)
May 24, 2022
- € 12.22 – WestRock Company (WRK)
- € 78.42 – Royal Bank of Canada (RY)
Week 21: Total net dividends € 123.27.
Dividend income is reported after the deduction of taxes. Check more at my Monthly Dividend sheet.
Portfolio Holdings News:
May 23, 2022
- NCC AB (NCC) to build a new school for 850 students in Finland; NCC has been commissioned by the city of Mikkeli to build the Saimaanportti school in Finland. The project is a turnkey contract, and the order value is approximately SEK 270 million.
- Raytheon Technologies Corporation (RTX) awarded a $422.66M fixed-price incentive modification to previously awarded contract N00024-22-C-5500 to exercise options for hardware production of the AN/SPY-6(V) Family of Radars.
May 24, 2022
- Best Buy Co., Inc. (BBY) Reports First Quarter Results; BBY reports Non-GAAP EPS of $1.57, beating analyst estimates by $0.01 but decreased 29.6% year-over-year. Revenue of $10.65 billion beats analyst estimates by $220 million even decreased 8.5% versus the same quarter last year. Management guides annual revenue of $48.3B to $49.9B, compared to the prior outlook of $49.3B to $50.8B and Non-GAAP diluted EPS of $8.40 to $9.00, compared to the prior outlook of $8.85 to $9.15.
- Raytheon Technologies Corporation (RTX) awarded a $217.12M fixed-price-incentive, firm-fixed-price contract.
May 25, 2022
- AvanceGas Holding Ltd (AVANCE) Reports Results for the First Quarter; AVANCE reports GAAP EPS of $0.32, a 6.67% increase from the prior year. Revenue grew by 6.4% to $66.53 million beating estimates by $30.31 million.
- General Mills, Inc. (GIS) Announces Agreement to Sell Helper and Suddenly Salad Businesses; GIS announced that it has entered into a definitive agreement to sell its Helper main meals and Suddenly Salad side dishes businesses to Eagle Family Foods Group, a portfolio company of Kelso & Company, in a cash transaction valued at approximately $610 million. The proposed transaction is expected to close in the first quarter of fiscal 2023, subject to regulatory approval.
- The Bank of Nova Scotia (BNS) Reports Second Quarter Results; BNS reports second quarter Non-GAAP EPS of C$2.18, 14.7% above last year's result and $0.22 better than expected. Revenue grew 2.6% to C$7.94 billion, topping estimates by C$70 million. Common Equity Tier 1 capital ratio was 11.6%.
- The Bank of Nova Scotia (BNS) Increases Quarterly Dividend; BNS declares C$ 1.03 per share quarterly dividend, 3% increase from prior dividend, payable July 27, 2022 to shareholders of record at the close of business on July 5, 2022.
May 26, 2022
- Flowers Foods, Inc. (FLO) Increases Quarterly Dividend; FLO announced that its board of directors has declared a quarterly dividend of $ 0.22 per share, an increase of 4.8% over the same quarter last year. New dividend is payable on June 23, 2022, to shareholders of record on June 9, 2022. In other actions, the board increased the company's share repurchase authorization by 20 million shares.
- Unum Group’s (UNM) Board of Directors Votes to Increase Common Stock Dividend; UNM announced its Board of Directors has authorized an increase of 10 percent in the quarterly dividend paid on its common stock. The new rate of 33.0 cents per common share, or $1.32 per share on an annual basis, will be effective with the dividend expected to be paid in the third quarter of 2022.
- Air Products and Chemicals, Inc. (APD), OQ and ACWA Power Sign Joint Development Agreement; APD announced it will team with Oman integrated energy group OQ and ACWA Power in a joint development agreement toward a multibillion-dollar investment in a green hydrogen-based ammonia production facility powered by renewable energy in Oman.
- Royal Bank of Canada (RY) Reports Second Quarter 2022 Results; RY reports Non-GAAP EPS of C$2.96, beating analyst estimates by C$0.28 and increased 7% year-over-year. Revenue of C$11.22 billion misses analyst estimates by C$710 million and decreasing 3.4% versus the same quarter last year. Common Equity Tier 1 ratio was 13.2%.
- Royal Bank of Canada (RY) Increases Quarterly Dividend; RY announced that its board of directors has declared an increase to its quarterly common share dividend of eight cents or seven per cent, to $1.28 per share, payable on and after August 24, 2022, to common shareholders of record at the close of business on July 26, 2022.
- The Toronto-Dominion Bank (TD) Reports Second Quarter 2022 Results; TD reports second quarter Non-GAAP EPS of C$2.02, 0.98% lower than last year but C$0.09 above estimates. Revenue increased 10.1% to C$11.26 billion, which was C$1.08 billion more than expected. Common Equity Tier 1 Capital ratio was 14.7%.
- Canadian Imperial Bank of Commerce (CM) Announces Second Quarter 2022 Results; CM reports Non-GAAP EPS of C$1.77, beating analyst estimates by C$0.05 even decreasing 1.12% year-over-year. Revenue grew 11.6% to C$5.5 billion, topping estimates by C$180 million. CET1 ratio was 11.7% at April 30, 2022, compared with 12.2% at the end of the prior quarter.
- Canadian Imperial Bank of Commerce (CM) Increases Dividends; CM announced that its Board of Directors declared a dividend of $0.83 per share, 3.1% increase from prior quarter dividend, payable on July 28, 2022 to shareholders of record at the close of business on June 28, 2022.
- Enbridge Inc. (ENB) advancing construction of natural gas pipeline to Venture Global’s Plaquemines LNG facility; ENB announced it will advance construction of its Venice Extension Project and Gator Express Meter Project to deliver 1.5B cf/day of natural gas to Venture Global's Plaquemines liquefied natural gas export plant in Louisiana.
May 27, 2022
- UPM-Kymmene Corporation’s (UPM) Raflatac acquiring AMC AG; UPM’s Raflatac has signed an agreement to acquire AMC AG (Advanced Methods of Coating), a Germany-based company. This acquisition accelerates growth and expands the product offering of UPM Raflatac. Both parties have agreed not to disclose the purchase price or other transaction details. The transaction is expected to be closed latest in Q3, 2022. The closing of the acquisition is subject to regulatory approvals.
- General Dynamics Corporation’s (GD) Mission Systems and Iridium Awarded $324 Million Contract; GD’s Mission Systems and Iridium Communications Inc. (NASDAQ: IRDM) announced today that they have been awarded a contract by the Space Development Agency in the amount of $324,516,613, including a base amount of $162,954,122 and $161,562,491 in options, to establish the ground Operations and Integration (O&I) segment for Tranche 1 of the National Defense Space Architecture (NDSA).
- Raytheon Technologies Corporation (RTX) awarded a $624.6M modification (P00007) to contract W31P4Q-21-D-0007 for the procurement of Stinger missiles and associated equipment.
Articles that caught my attention:
- Undervalued Dividend Growth Stock of the Week: Qualcomm (QCOM) by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
- Dividend vs Growth Investing: Which Is Right For Your Money? by Tom at Dividends Diversify
- 7 Dividend Growth Stocks For May 2022 by FerdiS at TheStreet.com
- The DANGER Of The 4% Withdrawal Rule by Dividend Earner
- Stryker: Innovation And Acquisition by Passive Income Pursuit at Seeking Alpha
- TD Bank Vs. Royal Bank Of Canada Stock: Which Is The Better Buy? by Jonathan Weber at Seeking Alpha
- Top Canadian Dividend ETFs by Mark at My Own Advisor
- Exxon Mobil: There Will Be Blood by David Alton Clark at Seeking Alpha
- Walmart Vs. Target: One Is The Much Better Bear Market Buy by Dividend Sensei at Seeking Alpha
- It’s Going to Hurt, Stay Invested [Podcast] by DivGuy at The Dividend Guy Blog
- 10 Dividend Growth Stocks For May 2022 by FerdiS at Seeking Alpha
- 5 Low Volatility Stocks in Rough Markets by Dividend Power
- Forward Dividend Income May 2022 — $1,348.37 Projected Annually by Graham at Reverse the Crush
- Amgen, Inc. (AMGN) Dividend Stock Analysis by D4L at Dividend Growth Stocks
- American Electric Power: Waiting For A Better Price by Kody's Dividends at Seeking Alpha
- Income Method: Become Financially Independent, Stress-Free by Financially Free Investor at Seeking Alpha
- The Ultimate Investment Strategy For FIRE by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
- LyondellBasell (LYB) Becoming a Dividend GROWTH Stock?! Say What! by Lanny at Dividend Diplomats
Thanks for stopping by, have a nice next week!
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