Week in Review 38/23

 

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:

September 18, 2023

• €9.69– NextEra Energy, Inc. (NEE)
• €21.19– McDonald's Corporation (MCD)
• €3.68– Kontoor Brands, Inc. (KTB)

September 19, 2023

• €63.43 – Manulife Financial Corporation (MFC)

September 20, 2023

• €18.66– Dominion Energy, Inc. (D)
• €17.82– V.F. Corporation (VFC)
• €8.62– Metro Inc. (TSE:MRU)

September 21, 2023

• €14.00– QUALCOMM Incorporated (QCOM)

Week 38: Total net dividends €157.09

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

Portfolio Holdings News:

September 18, 2023

• Lockheed Martin Corporation (LMT) is awarded a ~$196.54M cost-plus-incentive-fee, cost reimbursable contract. This contract provides for the upgrade of the verification and validation systems being utilized in the U.S. Reprogramming Laboratory; and the Norway Italy Reprogramming Laboratory, in support of aligning with the upgraded Block Two and Five capabilities, as well as automating and accelerating the verification and validation process for mission data files for the F-35 Joint Strike Fighter program. Work is expected to be completed in June 2028.

September 19, 2023

• General Dynamics Corporations (GD) Electric Boat awarded $517 million for Virginia-class submarine parts; GD Electric Boat, a business unit of GD, announced today it was awarded a $517.2 million delivery order against a previously issued basic ordering agreement for procurement and delivery of initial Virginia-class attack submarine spare parts to support maintenance availabilities.

• Triton International Limited (TRTN) and Brookfield Infrastructure Announce Receipt of All Required Regulatory Approvals for Proposed Acquisition and Election Deadline; TRTN said it had received all regulatory approvals needed to complete its previously announced deal with Brookfield Infrastructure Partners (NYSE:BIP).

• Visa Inc. (V) and Swift Team Up to Enhance Transparency, Speed and Security in Global B2B Money Movement; V and Swift today announced a collaboration to streamline international business-to-business (B2B) payments by strengthening connectivity between their networks that move trillions in value globally. Working together, the organizations aim to provide financial institutions and their customers with more choice when sending money across borders, while improving the end-to-end speed and transparency of their transactions.

• Fortis Inc. (FTS) Announces Dividend Increase; The Board of Directors of FTS declared a common share dividend of $0.59 per share representing an approximate 4.4% increase in the quarterly dividend, payable on December 1, 2023 to Shareholders of Record at the close of business on November 17, 2023, marking 50 consecutive years of increased dividends.

September 20, 2023

• General Mills, Inc. (GIS) Reports Fiscal 2024 First-quarter Results; GIS reports Non-GAAP EPS of $1.09, beating analyst estimates by $0.01 but decreasing 1% year-over-year. Revenue of $4.9 billion was in line with analyst estimates and increased 4.0% versus the same quarter last year. Management reaffirmed its full-year fiscal 2024 financial targets, adjusted operating profit and adjusted diluted EPS are each expected to increase 4 to 6 percent in constant currency.

• Starbucks Corporation (SBUX) Announces Increase in Quarterly Cash Dividend; SBUX announced that its Board of Directors approved an increase in the company’s quarterly cash dividend from $0.53 to $0.57 per share of outstanding Common Stock. This increase will be effective with the dividend payable on November 24, 2023, to shareholders of record on November 10, 2023, and raises the company’s annual dividend rate to $2.28 per share.

• Emera Inc. (TSE: EMA) Approves Increase in Common Dividend; The Board of Directors of EMA approved an increase in the annual common share dividend to $2.87 from $2.76 per common share and extended its dividend growth rate target of four to five per cent through 2026.

September 21, 2023

• Cisco Systems, Inc. (CSCO) Acquire Splunk; CSCO and Splunk (NASDAQ: SPLK), the cybersecurity and observability leader, today announced a definitive agreement under which Cisco intends to acquire Splunk for $157 per share in cash, representing approximately $28 billion in equity value. The acquisition has been unanimously approved by the boards of directors of both Cisco and Splunk. It is expected to close by the end of the third quarter of calendar year 2024, subject to regulatory approval and other customary closing conditions including approval by Splunk shareholders.

• Texas Instruments Incorporated (TXN) Increases Dividend; TXN will raise its quarterly cash dividend 5%, from $1.24 per share to $1.30, or $5.20 annualized. The higher dividend will be payable November 14, 2023, to stockholders of record on October 31, 2023, contingent upon formal declaration by the board of directors at its regular meeting in October.

• ONEOK, Inc. (OKE) Shareholders and Magellan Unitholders Approve Merger; OKE and Magellan Midstream Partners, L.P. today announced that, at their respective Special Meetings, ONEOK shareholders and Magellan unitholders approved the previously announced merger.

• W. P. Carey Inc. (WPC) Announces Strategic Plan to Exit Office; WPC announced that its Board of Directors has unanimously approved a plan to exit the office assets within its portfolio by spinning-off 59 office properties into Net Lease Office Properties ("NLOP"), so that it will become a separate publicly-traded REIT and implementing an asset sale program to dispose of 87 office properties retained by W. P. Carey. The Spin-Off is expected to close on or around November 1, 2023, subject to the satisfaction of certain conditions, and all sales under the Office Sale Program are targeted to be completed by January 2024.

Articles that caught my attention:

• Undervalued Dividend Growth Stock of the Week: NextEra Energy (NEE) by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
• How much do you need to retire? And waiting on the stock markets on the Sunday Reads by Dale Roberts at Cut the Crap Investing
• Kenvue Is Not The Better Johnson & Johnson, Also Not For Dividend Investors by Sapphire Wealth Insights at Seeking Alpha
• How to Live Off Dividends and How Much You Need to Retire by Simply Safe Dividends
• August 2023 Dividend Income Update by Mark at My Own Advisor
• It's The Best Time In History To Buy American Tower by Brad Thomas at Seeking Alpha
• What I Expect from My Top 10 Largest Holdings [Podcast] by DivGuy at The Dividend Guy Blog
• These 2 Stocks Offer Growth, Income AND Safety by Chuck Carnevale of FAST Graphs at Daily Trade Alert
• How To Build Your Dividend Growth Portfolio From Scratch by Sure Dividend
• Lockheed Martin: The Perfect Dividend Stock in a Recession? by Bert at Dividend Diplomats
• Berkshire Hathaway Is Back To Beating The Market. Ho-Hum by Dale Roberts at Seeking Alpha
• 3 Oil Stocks to Buy With $90 Crude by Bob Ciura at Dividend Power
• W. P. Carey: Dividend Gets Whacked by Jonathan Weber at Seeking Alpha
• These 5 Dividend Growth Stocks Are Down 20% or More from Recent Highs by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
• Explaining Bad Payout Ratios by Dividend Monk
• Realty Income Corp (O) Dividend Stock Analysis by D4L at Dividend Growth Stocks
• Will Canadian banks cut dividends? The pending recession + Good reads from the PF community by Bob at Tawcan

Thanks for stopping by, have a nice next week!