Shareholder returns via dividends and buybacks are in focusThe bar is raised for Q3. With a handful of earnings reports delivered from major banks, companies from other sectors begin now to report results to the street. This quarter, though, thehas been on the rise, interest rates continue to firm following the Fed’s first rate cut a month ago, and the threat of higherprices amid renewed geopolitical tensions is a worry.
So, will the momentum continue through year-end? The upside freight train is chugging hard - the SPX posting its best year-to-date return through Q3 since 1997. We’re on a bit of a dividend kick here at Wall Street Horizon, so let’s double-click on three companies that recently announced payout hikes – each has an upcoming earnings date that deviates from historical norms. Perhaps investors can glean clues as to where the market’s tracks will lead in the weeks ahead.
Regions’ Board of Directors declared a quarterly common dividend of $0.25 per share, a 4% jump over the Q2 dividend amount. The increase built on a 20% increase last year, making it three consecutive years of dividend growth. For the upcoming report, the bank’s reporting date is earlier than usual. Further out, it remains to be seen how the yield curve’s de-inversion will impact the bank’s net interest income.) is an early-season reporter.
On October 2, the $12.6 billion market cap company confirmed its Q3 report to occur on Tuesday, October 22, two days earlier than average.) are indeed up in smoke considering that the 2024 return is 32% as of October 9. The rally began in the second quarter after three years of lackluster price action. Even after the jolt, PM’s yield is 4.6%, more than three times that of the S&P 500.
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