In case you missed it, 7 big dividends: CBL hike, rumored Intel cut | Pro Recap

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By Davit Kirakosyan

Investing.com -- Here are some of the biggest dividend headlines you may have missed on InvestingPro this past week. Start your free 7-day trial to get this news first.

CBL Properties raises dividend by 50%

CBL Properties (NYSE:CBL) hiked its dividend by 50% to $0.375 per share, or $1.5 annualized, for an annual yield of 5.7%. The dividend will be payable on March 31, 2023, to stockholders of record on March 15, 2023, with an ex-dividend date of March 14, 2023.

The company will report its Q4 earnings on March 1 after the market close.

Banc of California surges on a dividend hike

Banc of California (NYSE:BANC) shares gained 6% on Monday after the company hiked its dividend by 66.7% to $0.10 per share, or $0.4 annualized, for an annual yield of 2.3%. The dividend will be payable on April 3, 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 EPS coming better than the consensus estimates, while revenues missed expectations.

Intel may cut its dividend: Report

There are rumors on Wall Street that Intel (NASDAQ:INTC) may be forced to reduce its dividend, according to a report by Bloomberg on Wednesday. The report highlights that Intel, which currently has a dividend yield of over 5%, the highest among major tech firms, may need to prioritize significant spending to regain its manufacturing leadership and reduce payouts to shareholders, which would further weigh on its tumbling stock.

Intel reported disappointing Q4 results last month, falling short of both top and bottom-line expectations and guidance estimates. The company refrained from offering a full-year forecast due to the "uncertainty in the current environment."

Despite the importance of dividend payouts to Intel, CFO Dave Zinsner did not rule out the possibility of a reduction when asked about it during the latest earnings call.

4 more dividend hikes

Radian Group (NYSE:RDN) hiked its dividend by 12.5% to $0.225 per share, or $0.9 annualized, for an annual yield of 4%. The dividend will be payable on March 15, 2023, to stockholders of record on February 27, 2023, with an ex-dividend date of February 24, 2023.

Extra Space Storage (NYSE:EXR) hiked its dividend by 8% to $1.62 per share, or $6.48 annualized, for an annual yield of 4.1%. The dividend will be payable on March 31, 2023, to stockholders of record on March 15, 2023, with an ex-dividend date of March 14, 2023.

Nutrien (NYSE:NTR) hiked its dividend by 10.4% to $0.53 per share, or $2.12 annualized, for an annual yield of 2.8%. The dividend will be payable on April 13, 2023, to stockholders of record on March 31, 2023, with an ex-dividend date of March 30, 2023.

The company also approved the purchase of up to 5% of its common shares over a twelve-month period through a normal course issuer bid (NCIB). Its Q4 results on Wednesday missed on EPS, while revenues came in better than expected. The company also lowered its 2023 EPS guidance.

Covenant Logistics (NASDAQ:CVLG) shares gained more than 4% on Friday after the company hiked its dividend by 37.5% to $0.11 per share, or $0.44 annualized, for an annual yield of 1.3%. The dividend will be payable on March 31, 2023, to stockholders of record on March 3, 2023, with an ex-dividend date of March 2, 2023.