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6 big dividends & buybacks this week: Mastercard hikes by 15.8%, Broadcom by 14.1%

Published Dec 09, 2023 10:59AM ET
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Investing.com — Here is your Pro Recap of the biggest dividend hikes, special dividends, and share-buyback announcements you may have missed this week.

Unlock the potential of InvestingPro for up to 60% off this Cyber Monday Extended and never miss out on a market winner again.

Mastercard hikes dividend by 15.8%, approves new $11 billion share buyback

On Tuesday, Mastercard (NYSE:MA) increased its quarterly cash dividend by 15.8% to $0.66 per share, or $2.64 annualized, with an annual yield of 0.6%. The dividend will be payable on February 9, 2024, to stockholders of record on January 9, 2024, with an ex-dividend date of January 8, 2024.

Furthermore, the Board of Directors approved a new share repurchase program, authorizing the company to repurchase up to $11 billion of its Class A common stock. This new program will become effective following the completion of the existing $9B share repurchase program, which was announced in Dec 2022. As of Dec 1, 2023, about $3.5B remains available for repurchase under the current program.

Exxon Mobil announces plan to increase share buyback pace after Pioneer deal closes

Exxon Mobil (NYSE:XOM) announced on Wednesday a plan to accelerate its share buyback program following the successful acquisition of Pioneer Natural Resources (NYSE:PXD).

The company plans to increase its annual share repurchases to $20B through 2025 once the deal is closed. Additionally, ExxonMobil confirmed its progress in fulfilling its current commitment to return $17.5B to its investors this year, part of a larger $35B share buyback plan.

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Broadcom hikes dividend by 14.1%

Broadcom (NASDAQ:AVGO) hiked its quarterly dividend by 14.1% to $5.25 per share, or $21 annualized, with an annual yield of 2.3%, as reported in real-time on InvestingPro.

The dividend will be payable on December 29, 2023, to stockholders of record on December 20, 2023, with an ex-dividend date of December 19, 2023.

Two more hikes and a special dividend

MBIA (NYSE:MBI) declared a special dividend of $8.00 per share, with an annual yield of 108.4%. The dividend will be payable on December 22, 2023, to stockholders of record on December 18, 2023, with an ex-dividend date of December 26, 2023.

As a result, shares jumped more than 81% on Friday.

Deere (NYSE:DE) hiked its quarterly dividend by 8.9% to $1.47 per share, or $5.88 annualized, with an annual yield of 1.6%. The dividend will be payable on February 8, 2024, to stockholders of record on December 29, 2023, with an ex-dividend date of December 28, 2023.

Owens Corning (NYSE:OC) raised its quarterly dividend by 15.4% to $0.60 per share, or $2.4 annualized, with an annual yield of 1.7%. The dividend will be payable on January 19, 2024, to stockholders of record on January 8, 2024, with an ex-dividend date of January 5, 2024.

Missed out on Black Friday? No problem, we've got you covered for Cyber Monday Extended at InvestingPro! There's still time to enjoy generous discounts. Elevate your market research with faster data, giving you the edge you need. Don't let this opportunity pass—act now and make your market insights even more powerful.

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6 big dividends & buybacks this week: Mastercard hikes by 15.8%, Broadcom by 14.1%
 

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Comments (3)
Merica Moment
Merica Moment Dec 10, 2023 10:37AM ET
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Dividend stocks are the best inflation hedges for retired people
PETER LENK
PETER LENK Dec 09, 2023 6:03PM ET
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Mastercard is now paying 0.6%!!! Wow!
Jayne Doe
Jayne Doe Dec 09, 2023 5:27PM ET
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I know what I did. Novice has nothing to do with it.
 
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