Week in Review 35/23

 

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:

August 28, 2023

• €14.55– Starbucks Corporation (SBUX)

August 31, 2023

• €12.93 – LTC Properties, Inc. (LTC)

September 1, 2023

• €35.61– Ahold Delhaize N.V. (AMS:AD)
• €28.62– Unilever PLC (AMS:UNA)
• €38.43– Pinnacle West Capital Corporation (PNW)
• €25.63– Golar LNG Limited (GLNG)
• €72.47– United Parcel Service, Inc. (UPS)
• €21.53– Aflac Incorporated (AFL)

Week 35: Total net dividends €249.77

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

Portfolio Holdings News:

August 28, 2023

• Eaton Corporation plc (ETN) Invests More Than $500 Million in North American Manufacturing; ETN expects to spend more than $500M in its North American manufacturing to meet rising demand for its electrical solutions across utility, commercial, data center, healthcare, industrial and residential markets.

August 29, 2023

• Kesko Corporation (KESKO) Sweden to concentrate its building and home improvement trade operations under the K-Bygg chain; In the future, KESKO’s business in the Swedish building and home improvement market will focus on serving B2B and B2C customers in K-Bygg stores. K-Bygg is a successful nationwide chain that currently has 51 stores across the country. The current 16 K-Rauta stores in Sweden will be either converted into K-Bygg stores or closed. The concentration of building and home improvement operations in Sweden under the K-Bygg brand will be completed by the end of 2024.

• NN Group N.V. (AMS:NN) Reports 1H 2023 Results; NN reports 1H23 GAAP EPS of Є2.00 compared 1H22 GAAP EPS of €5.64. Solvency II ratio increased to 201% from 197% at 31 December 2022. Committed to capital return policy of a progressive dividend per share and annual share buyback of at least €250 million; 2023 interim dividend of €1.12 per ordinary share, compared to €1.00 year ago.

• Best Buy Co., Inc. (BBY) Reports Second Quarter Results; BBY reports Non-GAAP EPS of $1.22, beating analyst estimates by $0.15 but decreasing 20.8% year-over-year. Revenue decreased 7.3% to $9.58 billion, which was $60 million more than expected. For FY2024 Management guides revenue of $43.8B to $44.5B, which compares to prior guidance of $43.8B to $45.2B and Non-GAAP diluted EPS of $6.00 to $6.40, which compares to prior guidance of $5.70 to $6.50.

• The Bank of Nova Scotia (BNS) Reports Third Quarter Results; BNS reports Non-GAAP EPS of C$1.73, in line with estimates and decreasing 17.6% year-over-year. Revenue grew 3.7% to C$8.09 billion, missing estimates by C$50 million. Common equity tier 1 capital ratio increased to 12.7% at July 31, 2023 from 12.3% at April 30. Provision for credit losses increased to C$819M from C$709M in the previous quarter and C$412M a year ago.

August 30, 2023

• Avance Gas Holding Ltd (AGAS.OL) Reports Second Quarter 2023 Earnings; AGAS reports second quarter Non-GAAP EPS of $0.47, 96% above last year's result and $0.05 more than expected. Revenue of $84.58 million increased 29.7% versus the same quarter last year.

• UGI Corporation (UGI) Announces Review of Strategic Alternatives; UGI has initiated a process to evaluate potential strategic alternatives, especially focusing on the LPG businesses. UGI said it is exploring a full range of options with the goal of reducing UGI’s earnings volatility and strengthening its balance sheet.

• Johnson & Johnson (JNJ) Announces Updated Financials and 2023 Guidance Following Completion of the Kenvue Separation; JNJ revised its 2023 outlook for adj. diluted EPS to $10.00–$10.10, indicating 12.0%–13.0% YoY growth. The updated sales figures, excluding the company's COVID-19 vaccine, stand at $83.2B–$84.0B with 7.0%–8.0% YoY growth on a reported basis, compared to $98.8B–$99.8B projected previously, indicating 6.5%–7.5% YoY growth.

• RTX Corporation (RTX) was awarded a $276.54M modification (P00030) to contract W15QKN-19-C-0017 for procurement of 155 mm projectiles.

August 31, 2023

• RTX Corporation (RTX) was awarded a $192 million contract for purchase of Advanced Medium Range Air-to-Air Missiles (AMRAAM).

• Canadian Imperial Bank of Commerce (CM) Announces Third Quarter 2023 Results; CM reports Non-GAAP EPS of C$1.52, missing analyst estimates by C$0.17 and decreasing 18% year-over-year. Revenue of C$5.85 billion beats analyst estimates by C$40 million and increased 5% versus the same quarter last year. CET1 ratio was 12.2% at July 31, 2023, compared with 11.9% at the end of the prior quarter.

September 1, 2023

• Amgen Inc. (AMGN) and Horizon Therapeutics Resolve FTC Lawsuit, Clearing Path to Close Acquisition; AMG and Horizon Therapeutics plc (NASDAQ:HZNP) today announced the entry into a consent order agreement with the Federal Trade Commission (FTC) that resolves the pending FTC administrative lawsuit. This clears the path to take the final steps to close Amgen's acquisition of Horizon.

• Walgreens Boots Alliance, Inc. (WBA) CEO Rosalind Brewer Resigns; WBA announced that the Board of Directors and Rosalind Brewer have mutually agreed that Ms. Brewer will step down as the Company’s Chief Executive Ocer (CEO) and as a member of the Board, as of August 31, 2023. The Board has appointed Ginger Graham, current Lead Independent Director of WBA, as the Company’s interim CEO. Ms. Brewer has agreed to continue to advise WBA while the Company conducts a search for a permanent CEO.

Articles that caught my attention:

• Undervalued Dividend Growth Stock of the Week: ASML Holding (ASML) by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
• 13 of the Highest Quality Blue-Chip Dividend Growth Stocks on the Planet by Chuck Carnevale of FAST Graphs at Daily Trade Alert
• RBC shows the way as Canadian banks report earnings on the Sunday Reads by Dale Roberts at Cut the Crap Investing
• 3M's Future Dividend Policy Remains Fuzzy as Health Care Spinoff Draws Near by Simply Safe Dividends
• Crown Castle Vs. American Tower: Only One Deserves To Be Called King by Daniel Jones at Seeking Alpha
• 1H 2023 dividend portfolio review – Part 3 by Bob at Tawcan
• Should you have 100% of your portfolio in stocks? by Mark at My Own Advisor
• Altria: This Dividend King Increased Its Dividend 4.3% And Yields 8.98% by Steven Fiorillo at Seeking Alpha
• Be Prepared for Q4 (Market Review) [Podcast] by DivGuy at The Dividend Guy Blog
• 3 Undervalued Healthcare Stocks in 2023 by Bob Ciura at Dividend Power
• VICI: The Potentially Huge Asset Hiding In Plain Sight by Ironside Research at Seeking Alpha
• The Highest Quality Dividend Challengers by FerdiS at Seeking Alpha
• The Clorox Company (CLX) Dividend Stock Analysis by D4L at Dividend Growth Stocks
• Top 5 Dividend Growth Stocks to Buy Now – September 2023 Edition by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
• Realty Income Shares Have Plummeted: Buy, Hold, Or Sell? by Jussi Askola at Seeking Alpha
• NextEra Energy: One Of The Best Times In 5 Years To Buy This Dividend Aristocrat by Brad Thomas at Seeking Alpha

Thanks for stopping by, have a nice next week!