Investing.com — Here is your Pro Recap of the biggest fresh dividend hikes/cuts and special dividends you may have missed last week: hikes at Cabot, Marriott, Columbia Banking, and Alerus Financial, a 96% cut at Pacwest, and a special dividend at ClearOne.
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Cabot raises dividend by 8%, reports Q2 beat, but misses on guidance
Cabot (NYSE:) hiked its quarterly dividend by 8.1% to $0.40 per share, or $1.6 annualized, for an annual yield of 2.2%, as reported in real time on InvestingPro.
The dividend will be payable on June 9, 2023, to stockholders of record on May 26, 2023, with an ex-dividend date of May 25, 2023.
Last week, the company reported a but missed on its 2023 guidance.
Marriott raises dividend by 30%
Marriott International (NASDAQ:) hiked its quarterly dividend by 30% to $0.52 per share, or $2.08 annualized, for an annual yield of 1.2%. The dividend will be payable on June 30, 2023, to stockholders of record on May 26, 2023, with an ex-dividend date of May 25, 2023.
Earlier this month, the company reported its , with EPS and revenues coming in better than the consensus estimates.
PacWest cuts dividend by 96%
PacWest (NASDAQ:) slashed its dividend by 96% to $0.01 per share, or $0.04 annualized, for an annual yield of 0.7%.
The dividend will be payable on May 31, 2023, to stockholders of record on May 15, 2023, with an ex-dividend date of May 12, 2023.
The LA-based bank said the business “remains fundamentally sound” and the dividend cut will help accelerate plans to build capital to CET1 of 10%+.
Shares closed the week with more than a 20% loss.
3 more dividend moves
ClearOne (NASDAQ:) declared a special dividend of $1.00 per share, for an annual yield of 80.6%. The dividend will be payable on May 31, 2023, to stockholders of record on May 22, 2023, with an ex-dividend date of May 19, 2023.
Columbia Banking System (NASDAQ:) shares gained more than 9% intra-day today after the company hiked its quarterly dividend by 20% to $0.36 per share, or $1.44 annualized, for an annual yield of 7.8%. The dividend will be payable on June 15, 2023, to stockholders of record on May 31, 2023, with an ex-dividend date of May 30, 2023.
Alerus Financial (NASDAQ:) hiked its quarterly dividend by 5.6% to $0.19 per share, or $0.76 annualized, for an annual yield of 5.5%. The dividend will be payable on July 14, 2023, to stockholders of record on June 15, 2023, with an ex-dividend date of June 14, 2023.
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