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5 big dividends: Generous hikes at Dell, Best Buy | Pro Recap

Investing.com
·2 min read

By Davit Kirakosyan

Investing.com -- Here is your daily Pro Recap of the biggest dividend headlines you may have missed on InvestingPro. Start your free 7-day trial to get this news first.

Dell Technologies hikes dividend, beats Q4, announces CFO retirement

Dell Technologies (NYSE:DELL) hiked its dividend by 12.1% to $0.37 per share, or $1.48 annualized, for an annual yield of 3.7%. The dividend will be payable on May 5, 2023, to stockholders of record on April 25, 2023, with an ex-dividend date of April 24, 2023.

The company reported its Q4 results yesterday, with both EPS and revenues coming in above the consensus estimates. The company also announced that Tom Sweet would retire as CFO at the end of Q2, and will be succeeded by Yvonne McGill.

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Shares were down more than 3% pre-market today.

Best Buy hikes dividend, warns of a fall in sales and profit

Best Buy (NYSE:BBY) hiked its dividend by 4.5% to $0.92 per share, or $3.68 annualized, for an annual yield of 4.5%. The dividend will be payable on April 13, 2023, to stockholders of record on March 23, 2023, with an ex-dividend date of March 22, 2023.

The company reported better-than-expected Q4 results, while 2024 guidance came in below expectations. The company warned of a decline in sales and profit in 2024 as the consumer electronics chain faces inflation-driven caution in customer spending habits and higher costs.

Wyndham Hotels & Resorts hikes dividend

Wyndham Hotels & Resorts (NYSE:WH) hiked its dividend by 9.4% to $0.35 per share, or $1.4 annualized, for an annual yield of 1.8%. The dividend will be payable on March 29, 2023, to stockholders of record on March 15, 2023, with an ex-dividend date of March 14, 2023.

The company reported its Q4 results last month, with both EPS and revenues coming in better than the consensus estimates.

2 more hikes

Academy Sports Outdoors (NASDAQ:ASO) hiked its dividend by 20% to $0.09 per share, or $0.36 annualized, for an annual yield of 0.6%. The dividend will be payable on April 13, 2023, to stockholders of record on March 23, 2023, with an ex-dividend date of March 22, 2023.

Arcosa (NYSE:ACA) hiked its dividend by 25% to $0.05 per share, or $0.2 annualized, for an annual yield of 0.3%. The dividend will be payable on April 28, 2023, to stockholders of record on April 14, 2023, with an ex-dividend date of April 13, 2023.

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