Week in Review 8/23

 

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:

February 20, 2023

• € 45.73 – Unum Group (UNM)

February 22, 2023

• € 13.52 – WestRock Company (WRK)

February 24, 2023

• € 14.78 – Starbucks Corporation (SBUX)
• € 82.15 – Royal Bank of Canada (RY)

Week 8: Total net dividends € 156.18

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

My Portfolio's Transactions:

February 24, 2023

• I purchased 50 shares of Brookfield Infrastructure Corporation (BIPC) at $43.41 per share plus commission.

Portfolio Holdings News:

February 21, 2023

• General Mills, Inc. (GIS) Raises Fiscal 2023 Guidance; GIS now expects oOrganic net sales growth of approximately 10 percent, adjusted operating profit growth of 6 to 7 percent in constant currency, adjusted diluted EPS growth of 7 to 8 percent in constant currency and free cash flow conversion of at least 90 percent of adjusted after-tax earnings.

• The Home Depot, Inc. (HD) Announces Fourth Quarter and Fiscal 2022 Results; HD reports fourth quarter GAAP EPS of $3.30, 2.8% above from last year and $0.02 ahead of estimates. Revenue of $35.83 billion misses analyst estimates by $170 million albeit increased 0.3% versus the same quarter last year. Management guides for FY23 sales growth and comparable sales growth to be approximately flat compared to fiscal 2022.

• The Home Depot, Inc. (HD) Increases Quarterly Dividend; HD announced that its board of directors approved a 10 percent increase in its quarterly dividend to $2.09 per share, which equates to an annual dividend of $8.36 per share. The dividend is payable on March 23, 2023, to shareholders of record on the close of business on March 9, 2023.

• Medifast, Inc. (MED) Announces Fourth Quarter and Full Year 2022 Financial Results; MED reports fourth quarter Non-GAAP EPS of $3.70, 27.2% above from last year and $1.48 ahead of estimates. Revenue of $337.2 million beats analyst estimates by $7.1 million but decreased 10.7% versus the same quarter last year. Management expects first quarter 2023 revenue to be in the range of $300 million to $320 million and diluted EPS to be in the range of $1.75 to $2.40.

• Realty Income Corporation (O) and Plenty Announce Strategic Alliance; O and Plenty Unlimited Inc. ("Plenty") today announced that they have entered into a strategic real estate alliance to support the development of Plenty's indoor vertical farms. Under the terms of the agreement, Realty Income will acquire and provide development funding for properties that will house Plenty's indoor farms. These properties will be leased to Plenty under long-term net leases. The agreement provides for up to $1 billion of development opportunities.

• Realty Income Corporation (O) Announces Operating Results for the Three Months and Year Ended December 31, 2022; O reports FFO of $1.00, beating analyst estimates by $0.01 and increasing 6.4% year-over-year. Revenue grew 29.7% to $888.7 million, topping estimates $48.13 million. For FY23 Management guides Normalized FFO of $4.01 to $4.13 per share.

February 22, 2023

• Intel Corporation (INTC) Cuts Quarterly Dividend; INTC announced that its board of directors has reset its dividend policy and declares the quarterly dividend to $0.125 per share -65.8% decrease from prior dividend of $0.365. The dividend will be payable on June 1, 2023, to stockholders of record on May 7, 2023.

• Avista Corporation (AVA) Reports Financial Results for the Fourth Quarter and Fiscal Year 2022; AVA reports GAAP EPS of $1.05, beating analyst estimates by $0.28 and increased 47.9% year-over-year. Revenue grew 18.6% to $496.77 million, topping estimates by $125.18 million. Management is confirming its 2023 consolidated earnings guidance with a range of $2.27 to $2.47 per diluted share.

• Main Street Capital Corporation (MAIN) Announces Supplemental Dividend; Board of Directors of MAIN declared a supplemental cash dividend of $0.175 per share payable on March 28, for shareholders of record March 21.

February 23, 2023

• Edison International (EIX) Reports Fourth Quarter and Full-Year 2022 Results; EIX reports Non-GAAP EPS of $1.15, beating analyst estimates by $0.06 but decreased 0.86% year-over-year. Management initiates 2023 EPS guidance of $4.55–4.85 and reiterates long-term EPS growth rate target of 5%-7% for 2021-2025.

• Lockheed Martin Aeronautics (LMT) is awarded a not-to-exceed $170M undefinitized cost-plus-fixed-fee order against a previously issued basic ordering agreement (N0001919G0008) and awarded a $164.34M modification to contract W31P4Q-22-D-0021 for Phased Array Tracking Radar to Intercept on Target (or PATRIOT) Advanced Capability-3 product assurance and launcher recapitalization.

• Eaton Corporation plc (ETN) Increases Quarterly Dividend; ETN declared a quarterly dividend of $0.86 per ordinary share, an increase of 6% over its last quarterly dividend. The dividend is payable March 24, 2023, to shareholders of record at the close of business on March 6, 2023.

• Main Street Capital Corporation (MAIN) Announces 2022 Fourth Quarter and Annual Results; MAIN reports NII of $1.03, beating analyst estimates by $0.15 and increasing 32% year-over-year. Total investment income 38.6% to $113.88 million, topping estimates $6.57 million.

• Medical Properties Trust, Inc. (MPW) Reports Fourth Quarter and Full-year Results; MPW reports FFO of $0.43, in line with expectations and decreasing 8.5% year-over-year. Revenue of $380.48 million beats analyst estimates by $7.49 million but decreased 7.0% versus the same quarter last year. Management is introducing initial 2023 calendar estimates of per share net income $0.83 to $0.98 and NFFO of $1.50 to $1.65.

• Pembina Pipeline Corporation (TSE:PPL) Reports Results for the Fourth Quarter and Full Year 2022; PPL reports fourth quarter Non-GAAP EPS of C$0.39, 389% above from last year. Revenue of C$2.69 billion beats analyst estimates by C$240 million and increased 5.1% versus the same quarter last year. Management reiterating recently announced 2023 adjusted EBITDA guidance range of $3.5 billion to $3.8 billion.

• Emera Incorporated (TSE:EMA) Reports 2022 Fourth Quarter and Annual Financial Results; EMA reports Non-GAAP EPS of C$0.93, beating analyst estimates by C$0.24 and increased 5.3% year-over-year. Revenue of C$2.36 billion beats analyst estimates by C$790 million and increased 26.2% versus the same quarter last year.

February 24, 2023

• NCC AB (NCC) signs installation contract for New North Zealand Hospital; NCC and the Capital Region of Denmark have signed an installation contract in conjunction with the construction of New North Zealand Hospital in Denmark. The order value for the installation contract amounts to approximately SEK 1.7 billion.

• TD Bank Group (TSE:TD) Receives Regulatory Approval to Acquire Cowen Inc.; TD announced they have received all regulatory approvals required under their merger agreement to complete TD's acquisition of Cowen. With this step completed, TD expects the acquisition to close on March 1, 2023, subject to the satisfaction of other customary closing conditions.

• Canadian Imperial Bank of Commerce (TSE:CM) Announces First Quarter 2023 Results; CM reports Non-GAAP EPS of C$1.94, beating analyst estimates by C$0.22 but decreasing 4.9% year-over-year. Revenue grew 7.8% to C$5.93 billion, topping estimates C$210 million. CET1 ratio was 11.6%, down 10 bps from last year.

Articles that caught my attention:

• Undervalued Dividend Growth Stock of the Week: Truist Financial (TFC) by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
• This Dividend Growth Stock Offers Upside by James Long and Chuck Carnevale at Daily Trade Alert
• Living The Dividend Dream by Mark at My Own Advisor
• Realty Income's Challenges: Should You Sell Or Hold Tight? by Jussi Askola at Seeking Alpha
• Coca-Cola Vs. PepsiCo: Which Is The Better Buy For Dividend Income Investors? by Frederik Mueller at Seeking Alpha
• DGRO vs. VIG: iShares or Vanguard Dividend Growth ETF? by Prakash Kolli at Dividend Power
• Dividend Increases are FLYING in This Month! by Bert at Dividend Diplomats
• How to Invest $100K Today [Podcast] by DivGuy at The Dividend Guy Blog
• Home Depot Is Overvalued Despite the Recent Share Price Pullback by Charles Fournier at Financial Freedom Is A Journey
• Intel Drops The Dividend Bombshell by Jonathan Weber at Seeking Alpha
• Sell Alert: 2 Overvalued Dividend Sells And 2 Great Replacement Buy Opportunities by Robert & Sam Kovacs at Seeking Alpha
• Top 5 Dividend Stocks for March 2023 by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
• Equinix: The King Of Tech REITs Is Finally A Good Buy by Brad Thomas at Seeking Alpha
• Union Pacific Corporation (UNP) Dividend Stock Analysis by D4L at Dividend Growth Stocks
• Broadcom: Cash Cow Unloved By The Market by Jonathan Wheeler at Seeking Alpha
• Build A 7%-Yielding Dream Retirement Portfolio With 12 Amazing Blue Chips by Dividend Sensei at Seeking Alpha

Thanks for stopping by, have a nice next week!

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