By Davit Kirakosyan
Investing.com -- Here is your weekly Pro Recap of the biggest share buybacks, dividend hikes and special dividends you may have missed on InvestingPro.
Movado announces special dividend, shares plunge on disappointing outlook
Movado Group (NYSE:MOV) declared a special dividend of $1.00 per share, with an annual yield of 3%. The dividend will be payable on April 19, 2023, to stockholders of record on April 5, 2023, with an ex-dividend date of April 4, 2023.
Shares dropped more than 14% on Thursday on the company's disappointing 2024 outlook and warning on difficult retail market conditions, despite Q4 EPS and revenues coming in better than the consensus estimates.
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Oxford Industries hikes dividend, shares drop on weak guidance
Oxford Industries (NYSE:OXM) hiked its dividend by 18.2% to $0.65 per share, or $2.6 annualized, for an annual yield of 2.2%. 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.
Shares plunged more than 12% on Thursday after the company's weak guidance showed that margins would narrow in 2023, while Q4 EPS/revenues beat the consensus estimates.
1 more hike and two buybacks
Farmers & Merchants Bancorp (NASDAQ:FMAO) hiked its dividend by 10.5% to $0.21 per share, or $0.84 annualized, for an annual yield of 3.4%. The dividend will be payable on April 20, 2023, to stockholders of record on April 1, 2023, with an ex-dividend date of March 30, 2023.
Shares closed more than 9% last week.
ABB (NYSE:ABB) announced a new share buyback program of up to $1 billion, set to be launched in April. The program will run through the company's 2024 annual general meeting (AGM). This follows the completion of the previous program launched in April 2022, under which 67.5 million shares for approximately $2B were purchased.
SuRo Capital (NASDAQ:SSSS) said it will commence a modified "Dutch Auction" tender offer to purchase up to 3M shares of its common stock at a price per share between $3.00 and $4.50, using available cash.
Shares gained nearly 22% last week.
