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:CBT) 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 Q2 EPS beat but missed on its 2023 guidance.
Marriott raises dividend by 30%
Marriott International (NASDAQ:MAR) 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 Q1 earnings, with EPS and revenues coming in better than the consensus estimates.
PacWest cuts dividend by 96%
PacWest (NASDAQ:PACW) 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:CLRO) 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:COLB) 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:ALRS) 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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