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Dividend Roundup: TLP, PPDI, GCI, HAS, MAT

Here are the six latest dividend-related developments featured on The Dynamic Dividend:

TransMontaigne Hikes Payout Again; Yield Nears 7%

TransMontaigne Partners (TLP) declared a distribution of $0.62 per unit today, which is a 1.6% increase over its previous payout and a 3.3% improvement over the petroleum terminaling and transportation company’s distribution during the same period last year.

TLP is currently trading at $35.46, where it now yields 6.99%.

This marks the tenth time TransMontaigne has raised its distribution since it began returning cash to unitholders in 2005. The company has raised its payout by a total of 55% in a little less than six years.

Budding Dividend Growth Stock PPD Exploring Sale

Pharmaceutical Product Development (PPDI) is said to be shopping itself around. The Wall Street Journal reported the story this weekend, rocketing the promising dividend growth stock nearly 20% higher on Monday morning.

Citing people familiar with the matter, the Journal says the provider of outsourced clinical research services “could fetch bids from both private-equity and larger clinical-research providers.”

Shares of PPDI surged as high as $32.91 (+18.13%) in early trading, a level they haven’t seen since 2008. At today’s high, the stock carries a 1.82% dividend yield.

PPD has raised its dividend output every year since initiating its quarterly payout in 2006, boosting its rate by a total of 500% over that brief period. The company has hiked its payout four times during its short dividend-paying tenure, most recently giving its shareholders a 20% raise in the summer of 2009.

Gannett Edges Earnings View, Doubles Dividend

Gannett (GCI) reported second quarter earnings of $0.58 per share on Monday morning, beating the consensus analyst estimate by a penny. The company also delivered its first post-cut dividend hike, doubling its payout.

The media and marketing solutions company generated $1.33 billion in revenue during the quarter, which matched the average analyst forecast. Total sales declined 2.2% as big sales growth (+12.6%) in the Digital segment was more than offset by declines in the larger Publishing Advertising (-6.5%) and Publishing Circulation (-1.7%) units.

Gannett declared a quarterly dividend of $0.08 per share in a separate press release this morning, which is double the rate paid each of the previous ten quarters by the company. This is the first time Gannett has given its shareholders a raise since slashing its quarterly payout by 90% (from a peak of $0.40 all the way down to $0.04 per share) at the start of 2009 to pay down debt.

Shares of GCI popped to $14.06 (+4.30%) in pre-market trading, where they now feature a 2.28% dividend yield.

Hasbro Continues to Lose Toy War to Mattel

Hasbro (HAS) reported second quarter revenue that crushed the consensus analyst estimate Monday morning, but earnings disappointed and the country’s #2 toymaker showed a decline in every segment not propped up by its Transformers lineup.

Hasbro posted adjusted earnings of $0.33 per share on $908.5 million in revenue, falling short of the average profit view ($0.39 per share) while easily surpassing the consensus sales estimate ($854.8 million). Net earnings rose 33% year-over-year, while net revenue grew by 23%.

The company’s revenue growth during the quarter was powered exclusively by its “Boys” product category, thanks to its Transformers toy lineup (licensing revenue associated with the latest Transformers film won’t be recorded until the third quarter). The unit nearly doubled (+96%) its sales to completely offset declines elsewhere: revenue for Hasbro’s “Games and Puzzles” category fell 12%, while sales under the “Girls” and “Preschool” umbrellas dropped 11% and 10%, respectively.

For the second consecutive quarter, the company’s results were a stark contrast to the numbers put up by rival (and #1 U.S. toymaker) Mattel, which reported accelerated growth across all units on Friday.

On the bright side, the company said it expects “to deliver meaningful growth in both revenues and earnings per share versus our 2010 reported full-year results.” The average analyst forecast currently calls for a 16% rise in EPS and 10% sales growth.

Shares of HAS fell to $40.60 (-1.86%) in pre-market trading, where they carry a 2.96% dividend yield.

Hasbro is currently on pace to improve its dividend output for the eighth consecutive year after giving shareholders a 20% raise in February. The company has increased its dividend rate tenfold during its streak.

Mattel Hits New High, Growth Quickens Across All Units

Mattel (MAT) reported second quarter results that beat Wall Street’s expectations and showed accelerating sales growth across all business segments this morning, sending shares to a new all-time high.

The toymaker posted earnings of $0.23 per share on $1.16 billion in revenue, while analysts were expecting a profit of just $0.16 per share and sales of only $1.11 billion. Net income rose 56% year-over-year, while revenue grew by 14%.

Sales in Mattel’s vital “Girls and Boys Brands” segment rose 22% year-over-year thanks largely to products related to entertainment properties CARS 2 and Green Lantern, while “Fisher-Price Brands” (+4%) and “American Girl Brands” (+13%) showed more modest advances. Sales growth actually accelerated across all units compared to the company’s impressive first quarter, when revenue grew by 15% for “Girls and Boys” and 4% for “American Girls,” and “Fisher-Price” sales declined by 2% due to the discontinuation of the Sesame Street product line.

Shares of MAT popped as high as $28.49 (+6.35%) today, which is a new all-time high. At that level, the stock carries a 3.23% dividend yield. The company gave its shareholders a 10.8% raise earlier this year, which was its biggest dividend hike since 2007.

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Dynamic Dividend
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