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:
October 14, 2024
- €19.96 – Illinois Tool Works Inc. (ITW)
October 15, 2024
- €24.03 – Cardinal Health, Inc. (CAH)
- €25.76 – Main Street Capital (MAIN)
- €40.76 – W. P. Carey Inc. (WPC)
- €33.64 – Realty Income Corporation (O)
- €56.57 – BCE Inc. (BCE)
- €28.21 – Algonquin Power & Utilities Corp. (AQN)
October 18, 2024
- €50.83 – Tele2 AB (TEL2)
- €19.67 – Bank OZK (OZK)
Week 42: Total net dividends €299.44
Dividend income is reported after the deduction of taxes. Check more at my Monthly Dividend sheet.
Portfolio Holdings News:
October 14, 2024
- Kesko Corporation’s (KESKO) sales in September; KESKO’s sales increased by 1.9% in September, while decreasing by 2.0% in comparable terms.
October 15, 2024
- Johnson & Johnson (JNJ) Reports Q3 2024 Results; JNJ reports second quarter Non-GAAP EPS of $2.42, 9% below last year's result but $0.21 more than expected. Revenue of $22.5 billion beats analyst estimates by $330 million and increased 5.4% versus the same quarter last year. Management guides Operational Sales between $89.4B – $89.8B and Adjusted EPS (Diluted) between $9.88 – $9.98.
- Main Street Capital Corporation (MAIN) Announces Preliminary Estimate of Third Quarter 2024 Operating Results; MAIN’s preliminary estimate of NAV per share as of September 30 is $30.54 to $30.60, representing an increase of $0.74 to $0.80 per share, or 2.5% to 2.7%, from the NAV per share of $29.80 as of June 30, 2024. Q3 net investment income is seen at $0.99 to $1.01 per share, while distributable net investment income is expected between $1.05 to $1.07 a share.
October 16, 2024
- UPM-Kymmene Corporation Lowers Its Outlook; UPM lowers its outlook for 2024 and releases its preliminary Q3 2024 results. Comparable EBIT in Q4 2024 is expected to be on similar level or increase from Q4 2023 (EUR 323 million). Therefore, UPM’s comparable EBIT in full-year 2024 is expected to be on similar level or increase from 2023. Earlier, UPM expected its full-year 2024 comparable EBIT to increase from 2023, and its H2 2024 comparable EBIT to be higher than in H1 2024.
- Tietoevry Corporation (TIETO) updates its full-year guidance; TIETO expects its organic growth to be around -2% ((previous 0-3%). The company estimates its full-year adjusted operating margin to be 12.3-12.7% (previous 12.0-13.0%).
- Kinder Morgan, Inc. (KMI) Reports Third Quarter 2024 Financial Results; KMI reports third quarter Non-GAAP EPS of $0.25 , flat with last year and $0.02 less than expected. Revenue fell 5.6% to $3.69 billion, which was $360 million less than expected. Distributable cash flow (DCF) per share of $0.49, flat to the third quarter of 2023. Management budgeted 2024 DCF of $5 billion ($2.26 per share), Adjusted EBITDA of $8.16 billion, both up 8% versus 2023.
- Main Street Capital Corporation (MAIN) Announces New Portfolio Investment; MAIN completed a $41.4M investment in Connect Telecommunications Solutions, a value-added distributor of fiber management to the Canadian telecom industry, adding to its portfolio.
- Crown Castle Inc. (CCI) Reports Third Quarter 2024 Results; CCI reports Q3 FFO of $1.84, beating analyst estimates by $0.14 and increased 4% year-over-year. Net revenue of $1.65 billion, exceeding the average analyst estimate of $1.64 billion, climbed from $1.63 billion in the previous quarter slipped from $1.67 billion a year ago. Management reaffirmed its 2024 adjusted FFO per share guidance of $6.91-$7.02.
October 17, 2024
- Nordea Bank Abp (NDA-FI.HE) Reports Third-Quarter Results 2024; NDA reports Q3 diluted earnings per share of €0.36, beating analyst estimates by €0.0,1 but 5% below last year's result. Total operating income grew 2% to €3,014 million beating estimates by €37 million. Operating profit fell 5% to €1,634 million, €57 million more than expected. CET1 ratio was 15.8%, compared with 17.5% at the end of the prior quarter. Management guides return on equity of above 16%.
- Bank OZK (OZK) Announces Third Quarter 2024 Earnings; OZK reports Q3 GAAP EPS of $1.55, 4% above last year's result and $0.01 more than expected. Revenue of $423 million was in line with analyst estimates and increased 7.6% year-over-year. OZK's provision for credit losses decreased to $46.4M from $49.0M in the previous quarter and increased from $44.0M a year ago. Book value per common share was $46.31 at September 30, 2024, a $5.96 increase from $40.35 at September 30, 2023.
October 18, 2024
- The Procter & Gamble Company (PG) Announces Fiscal Year 2025 First Quarter Results; PG reports Q1 Non-GAAP EPS of $1.93, beating analyst estimates by $0.03 and increased 5% year-over-year. Revenue fell 0.6% to $21.74 billion, missing analyst estimates by $240 million. Management maintained its fiscal 2025 diluted net earnings per share growth to be in the range of 10% to 12% versus fiscal 2024 diluted net EPS of $6.02 and also maintained its fiscal 2025 core earnings per share growth to be in the range of five to seven percent versus fiscal 2024 core EPS of $6.59. Management continues to expect adjusted free cash flow productivity of 90% and expects to pay around $10 billion in dividends and to repurchase $6 to $7 billion of common shares in fiscal 2025.
- CVS Health Corporation (CVS) Provides Preliminary Guidance for Third Quarter 2024 Earnings; CVS issued preliminary guidance for Q3 indicating GAAP diluted earnings per share of $0.03-$0.08 and non-GAAP EPS of $1.05-$1.00.
- Ally Financial Inc. (ALLY) Reports Third Quarter 2024 Financial Results; ALLY reports Non-GAAP EPS of $0.95, up 15% versus prior year and $0.43 ahead of estimates. Revenue of $2.06 billion beats analyst estimates by $30 million and increased 1% versus the same quarter last year. PCL increased $137 million year over year to $645 million. CET1 of 9.8% up 20 bps quarter over quarter.
Articles that caught my attention:
- Undervalued Dividend Growth Stock of the Week: Magna International (MGA) by Jason Fieber at Daily Trade Alert
- The best year-to-date for U.S. stocks, in decades. Plus, the Sunday Reads by Dale Roberts at Cut the Crap Investing
- How To Invest $153,000 For Durable $1,000 Monthly Income by Roberts Berzins, CFA at Seeking Alpha
- Eight Dividend Growth Companies Rewarding Shareholders With Raises Last Week by Dividend Growth Investor
- Up 40% Over The Past 12 Months - What Home Depot Investors Need To Know by Leo Nelissen at Seeking Alpha
- Disney and Nike: Key Lessons in Valuation and Risk Management by Chuck Carnevale of FAST Graphs at Daily Trade Alert
- Three Safe Dividend Kings to Weather Any Storm by Bob Ciura at Dividend Power
- RRIF Withdrawals – A Step-by-Step Strategy [Podcast] by Mike at The Dividend Guy Blog
- Dividend Stocks Versus Growth Stocks In 2024 | Which Is Better? by Bob Ciura at Sure Dividend
- Select Your Asset Manager Investment Wisely by Charles Fournier at Financial Freedom Is A Journey
- Manulife Financial Stock – Back From the Dead in 2024 by Dylan Callaghan at Stocktrades
- Building A $25,000 Dividend Portfolio: Enhancing SCHD With October's Top 10 High-Yield Picks by Frederik Mueller at Seeking Alpha
- Colgate-Palmolive (CL) Dividend Stock Analysis by D4L at Dividend Growth Stocks
- Will This Bull Market Ever End? – September Dividend Income Report by Mike at The Dividend Guy Blog
- Main Street Capital: Best Suited To Navigate Changing Interest Rates (Upgrade) by The Gaming Dividend at Seeking Alpha
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