5 big dividends: Occidental Petroleum, RLJ Lodging hike their payouts | Pro Recap

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5 big dividends: Occidental Petroleum, RLJ Lodging hike their payouts | Pro Recap
Credit: © Reuters

By Davit Kirakosyan

Investing.com -- Here is your daily Pro Recap of the biggest dividend headlines you may have missed on InvestingPro since Friday. Start your free 7-day trial to get this news first.

Occidental Petroleum hikes dividend, misses Q4 estimates

Occidental Petroleum (NYSE: OXY ) hiked its dividend by 38% to $0.18 per share, or $0.72 annualized, for an annual yield of 1.2%. The dividend will be payable on April 17, 2023, to stockholders of record on March 10, 2023, with an ex-dividend date of March 9, 2023.

The company reported its Q4 results yesterday, missing both EPS and revenue estimates. The company also announced it would start a new $3 billion share repurchase program, having completed a previous $3B program.

Last week, Evercore ISI downgraded the company to Underperform from In line and cut its price target to $60.00 from $74.00.

RLJ Lodging hikes dividend, Q4 FFO more than doubles

RLJ Lodging Trust (NYSE: RLJ ) hiked its dividend by 60% to $0.08 per share, or $0.32 annualized, for an annual yield of 2.8%. The dividend will be payable on April 17, 2023, to stockholders of record on March 31, 2023, with an ex-dividend date of March 30, 2023.

The company reported its Q4 results yesterday, with FFO (funds from operations) coming in at $0.33, more than double from last year’s $0.14. Revenue was $302.2 million, slightly below the consensus estimate of $304.6M.

3 more hikes

Northrim BanCorp (NASDAQ: NRIM ) hiked its dividend by 20% to $0.60 per share, or $2.4 annualized, for an annual yield of 4.6%. The dividend will be payable on March 17, 2023, to stockholders of record on March 9, 2023, with an ex-dividend date of March 8, 2023.

Steel Dynamics (NASDAQ: STLD ) shares rose more than 2% yesterday after the company hiked its dividend by 25% to $0.425 per share, or $1.7 annualized, for an annual yield of 1.4%. The dividend will be payable on April 14, 2023, to stockholders of record on March 31, 2023, with an ex-dividend date of March 30, 2023.

HF Sinclair (NYSE: DINO ) hiked its dividend by 12.5% to $0.45 per share, or $1.8 annualized, for an annual yield of 3.4%. The dividend will be payable on March 17, 2023, to stockholders of record on March 7, 2023, with an ex-dividend date of March 6, 2023.

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