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Coca-Cola Will Continue Prioritizing Dividend Despite Weakness in Away-From-Home Channels

Earlier this year, Coca-Cola (KO) announced its 58th consecutive annual dividend increase. When the company reported earnings on April 21, management reaffirmed their commitment to the dividend: We will of course continue to focus on protecting the progress we made on working capital and free cash flow in 2019. And in this context, our capital allocation priorities remain very much focused on investing wisely to support our business operations and continuing to prioritize our dividend. Specifically with regard to the dividend, we currently have no intentions to change our approach. While many consumer staples businesses have seen a surge in demand due to pantry loading, Coca-Cola's outlook is more tempered due to its diversified reach into many different markets worldwide (over 60% [...]

April 24th, 2020|

AT&T Reports Initial Impact from COVID-19, Expects to Maintain Healthy Dividend Coverage

AT&T (T) reported earnings on April 22 and reiterated confidence in its dividend despite the uncertainty caused by COVID-19:  No one knows the full duration and magnitude of the situation, but we have been running several different stress test scenarios with varying degrees of severity. Through it all, we expect to come through this healthy and expect that our cash flow will allow us to continue to invest in growth areas, to provide ample dividend coverage, and allow us to retire debt...We remain committed to our dividend. In fact, we finished last year with our dividend as a percent of free cash flow a little over 50%. And even with the current economic crisis, we expect the payout ratio in 2020 to [...]

April 24th, 2020|

Philip Morris Remains Fully Committed to Dividend

Philip Morris (PM) reported earnings on April 21 and reiterated the firm's commitment to its dividend during these uncertain times: We also expect that strong cash flows will exceed cash requirements, including the funding of dividends to which we remain fully committed...Crucially, our organization, liquidity, and balance sheet are strong. We'll continue to protect and support our employees, serve our consumers, and reward our shareholders, which clearly includes our strong commitment to a dividend. The international maker of Marlboro cigarettes and IQOS heated tobacco products expects to remain relatively resilient overall during the pandemic. 

April 24th, 2020|

Raytheon and United Complete Merger; Dividend Investors Expected to be Kept Whole with 2-3% Yield

Earlier this month Raytheon completed its all-stock merger with United Technologies, forming Raytheon Technologies (RTX). Several weeks before the merger closed, United Technologies executed the spin-offs of its Otis (OTIS) elevators and Carrier (CARR) building systems businesses. United Technologies stock remained outstanding but the company changed its name to Raytheon Technologies and its ticker symbol to RTX. Since Raytheon Technologies has not yet reported financial results, please note that the financial data shown on our website (and most others) reflects United Technologies' past information, including its dividend.

April 24th, 2020|
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