Sunday, June 2, 2024

Week in Review 22/24


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 27, 2024

  • €19.35– Eaton Corporation plc (ETN)
  • €83.10– Royal Bank of Canada (RY)

May 31, 2024

  • €19.44– Starbucks Corporation (SBUX)
  • €13.05– LTC Properties, Inc. (LTC)

Week 22: Total net dividends €134.94

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

Portfolio Holdings News:

May 27, 2024

May 28, 2024

  • NCC AB (NCC) to construct swim center in Vantaa; NCC and the City of Vantaa have signed an agreement for a new swim center in Vantaa, Finland. The swim center is part of a larger initiative involving a new sports facility in the city, called Elmo Sport Park. The order value for the swim center is approximately SEK 460 million.

  • The Bank of Nova Scotia (BNS) Reports Second Quarter Results; BNS reports second quarter non-GAAP EPS of C$1.58, 6.5% below from last year but C$0.02 more than expected. Total revenue for the quarter ended April 30 was C$8.35 billion, up from C$7.91 billion a year earlier. Analysts expected C$8.33 billion. CET1 ratio was 13.2%, up about 30 basis points from the previous quarter. PCL for fiscal Q2 was C$1.01 billion, up from C$709 million a year ago.

  • KKR will buy Emera's Inc. (EMA) stake in Labrador Island Link; EMA and KKR, a leading global investment firm, announced they have entered into a definitive agreement where KKR will acquire EMA’s indirect minority equity interest in the Labrador Island Link (LIL). The transaction value is C$1.19 billion.

May 29, 2024

  • Kesko Corporation (KESKO) to acquire Autotalo Lohja; KESKO has agreed to acquire the business operations of Autotalo Lohja Oy, a Volkswagen, Seat and Cupra dealer operating in Lohja and Tammisaari in Southern Finland. The acquisition is part of K-Auto’s long-term strategy to become the most interesting automotive company in Finland.

  • ConocoPhillips (COP) to acquire Marathon Oil Corporation; COP and Marathon Oil Corporation (MRO) announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 billion, inclusive of $5.4 billion of net debt. The transaction is expected to close in the fourth quarter of 2024.

May 30, 2024

  • Verizon Communications Inc. (VZ) selected for 10-year Navy contract; The Department of the Navy (DON) has selected Verizon Public Sector to provide wireless devices and services through the Wireless and Telecommunications Services contract vehicle (Spiral 4). The total value of the multiple award contract is up to $2.67 billion over 10 years.

  • Best Buy Co., Inc. (BBY) Reports First Quarter Results; BBY reports Q1 Non-GAAP EPS of $1.20, beating estimates by $0.13 and 4.35% higher than the prior year. Revenue fell 6.5% to $8.85 billion, missing analyst estimates by $120 million. For FY2025 Management guides revenue of $41.3 billion to $42.6 billion and Non-GAAP diluted EPS of $5.75 to $6.20.

  • Pratt & Whitney Military Engines, part of RTX Corporation (RTX) has secured a $301.76 million modification to a previously awarded fixed-price-incentive (firm-target), cost-plus-incentive-fee advanced acquisition contract.

  • Royal Bank of Canada (RY) Reports Second Quarter 2024 Results; RY reported quarterly adjusted earnings of C$2.92 for the quarter ended in April, higher than the same quarter last year, when the company reported EPS of C$2.65. Expectation for the quarter was for earnings of C$2.75 per share. Revenue rose 4.7% to C$14.15 billion from a year ago, analysts expected C$13.49 billion. CET1 ratio at 12.8%, was down 2.1 percentage points on the prior quarter. PCL increased C$320 million year-over-year to C$920 million.

  • Royal Bank of Canada (RY) Increased Dividends; RY announced today that its board of directors has declared an increase to its quarterly common share dividend of four cents, or three per cent, to $1.42 per share, payable on and after August 23, 2024, to common shareholders of record at the close of business on July 25, 2024.

  • Canadian Imperial Bank of Commerce (CM) Announces Second Quarter 2024 Results; CM reports Q2 Non-GAAP EPS of C$1.75, 3.0% above from last year and C$0.11 more than expected. Revenue grew 28.1% to C$6.16 billion, which was C$80 million less than expected. CET1 ratio was 13.1% at April 30, 2024, compared with 13.0% at the end of the prior quarter. Provision for credit losses was C$514 million, up C$76 million from the same quarter last year.

May 31, 2024

Articles that caught my attention:

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