Sunday, May 28, 2023

Week in Review 21/23



 

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:



May 23, 2023


  • €49.89 – Tele2 AB (TEL2)


May 24, 2023


  • €80.73 – Royal Bank of Canada (TSE:RY)


Week 21: Total net dividends €130.62


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



Portfolio Holdings News:



May 22, 2023


  • Chevron Corporation (CVX) Announces Agreement to Acquire PDC Energy; CVX announced that it has entered into a definitive agreement with PDC Energy, Inc. (NASDAQ: PDCE) to acquire all of the outstanding shares of PDC in an all-stock transaction valued at $6.3 billion, or $72 per share. Under the deal terms, PDCE shareholders would receive 0.4638 CVX shares for each PDC share.


May 23, 2023


  • V.F. Corporation (VFC) Reports Results for the Fourth Quarter; VFC reports fourth quarter Non-GAAP EPS of $0.17, 62.2% below from last year but $0.03 ahead of estimates. Revenue of $2.74 billion beats analyst estimates by $20 million but decreased 20.8% versus the same quarter last year. For FY 2024 Management guides total revenue flat to up slightly in constant dollars and EPS of $2.05 to $2.25.


  • General Dynamics Corporation (GD) NASSCO Awarded $736 Million to Build T-AO 213; NASSCO, a subsidiary of GD, announced that it has been awarded a $736 million modification to the existing T-AO contract for construction of a ninth ship (T-AO 213) in the John Lewis-class fleet oiler program. The exercised option comes in addition to the earlier awarded eight ships, bringing the total contract value to approximately $5.5 billion for construction of nine ships.



  • Medical Properties Trust, Inc. (MPW) Announces Prospect Recapitalization Transactions; MPW announced that affiliates of Prospect Medical Holdings (“Prospect”) have completed $375 million in new financings from third-party lenders, the proceeds of which will be used to provide Prospect’s hospital operations with liquidity and capitalize its managed care business for continued growth and value creation in a vibrant market for such businesses.


May 24, 2023


  • NCC AB (NCC) to build Granåsen soccer hall in Trondheim; NCC has been commissioned by Trondheim Municipality to build Granåsen soccer hall in Trondheim, Norway. Construction will commence in June 2023 and is scheduled for completion in the end of 2024. The order value is approximately SEK 230 million.


  • Prudential Financial, Inc. (PRU) to Reinsure $10B of Variable Annuities with Constellation Insurance; PRU announced an agreement to reinsure a portion of its traditional variable annuity block with an affiliate of Constellation Insurance Holdings, Inc., for proceeds at closing resulting in approximately $650 million. Under the terms of the agreement, Constellation’s affiliate will reinsure approximately $10 billion of Prudential Defined Income (PDI) traditional variable annuity contracts with guaranteed living benefits issued by Pruco Life Insurance Company (PLAZ), a subsidiary of Prudential Financial. This represents approximately 10% of Prudential’s remaining legacy in-force traditional variable annuity block by account value.



  • The Bank of Nova Scotia (BNS) Reports Second Quarter Results; BNS reports Non-GAAP EPS of C$1.70, missing analyst estimates by C$0.08 and decreasing 22.0% year-over-year. Revenue of C$7.93 billion misses analyst estimates by C$80 million and decreased 0.1% versus the same quarter last year. CET1 ratio was 12.3% an increase of approximately 80 basis points from the prior quarter.


  • The Bank of Nova Scotia (BNS) Increases Quarterly Dividend; BNS announced that its board of directors has declared an increase to its quarterly common share dividend of three cents or 2.9%, to C$1.06 per share, payable on July 27, 2023, to common shareholders of record at the close of business on July 5, 2023.


May 25, 2023


  • Best Buy Co., Inc. (BBY) Reports First Quarter Results; BBY reports Non-GAAP EPS of $1.15, beating analyst estimates by $0.05 but decreased 26.8% year-over-year. Revenue of $9.47 billion misses analyst estimates by $60 million and decreased 11.1% versus the same quarter last year. For 2024 Management guides unchanged; Revenue of $43.8 billion to $45.2 billion , Comparable sales decline of 3.0% to 6.0% and Non-GAAP diluted EPS2 of $5.70 to $6.50.


  • Flowers Foods, Inc. (FLO) Increases Quarterly Dividend; FLO announced that its board of directors has declared a quarterly dividend of $ 0.23 per share, an increase of 4.5% over the same quarter last year. This is the 83rd consecutive quarterly dividend paid by the company and is payable on June 22, 2023, to shareholders of record on June 8, 2023.


  • Raytheon Technologies Corporation (RTX) was awarded $146.66M cost-plus-fixed-fee contract for the Future Advanced Strike (FAST) effort to provide intelligence, surveillance and reconnaissance and precision strike capability.


  • Unum Group (UNM) to Increase Common Stock Dividend; UNM announced its board of directors has authorized an increase of more than 10 percent in the quarterly dividend paid on its common stock. The new rate of 36.5 cents per common share, or $1.46 per share on an annual basis, will be effective with the dividend expected to be paid in the third quarter of 2023.



  • Royal Bank of Canada (RY) Reports Second Quarter Results; RY reports Non-GAAP EPS of C$2.65, missing analyst estimates by C$0.17 and decreasing 11% year-over-year. Revenue grew 20.5% to C$13.52 billion, topping estimates C$340 million. CET1 ratio was 13.7% an increase of 1000 basis points from the prior quarter. Total PCL was C$600 million, compared to C$(342) million a year ago.


  • 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 three cents or two per cent, to $1.35 per share, payable on and after August 24, 2023, to common shareholders of record at the close of business on July 26, 2023.


  • The Toronto-Dominion Bank (TD) Reports Second Quarter 2023 Results; TD reports Non-GAAP EPS of C$1.94, missing analyst estimates by C$0.15 and decreasing 3.96% year-over-year. Revenue of C$12.54 billion beats analyst estimates by C$130 million and increased 13.6% versus the same quarter last year. CET1 ratio was 15.3%, compared with 15.5% at the end of the prior quarter.



  • Canadian Imperial Bank of Commerce (CM) Increases Quarterly Dividend; CM announced that its Board of Directors declared a dividend of $0.87 per share for the quarter ending July 31, 2023, an increase of $0.02 or 2.4% per share from the previous quarter. This dividend is payable on July 28, 2023 to shareholders of record at the close of business on June 28, 2023.


May 26, 2023




Articles that caught my attention:





Thanks for stopping by, have a nice next week!


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