Alkami Technology, a leading provider of cloud-based digital banking solutions, has announced plans for a secondary offering of 7.5 million shares of its common stock. The offering will be led by J.P. Morgan Securities LLC and involves the sale of shares by existing investors. Alkami will not be selling any shares in the offering and will not receive any proceeds from the sale.
Wesco International has announced a quarterly cash dividend of $0.4125 per share for its common stockholders, payable on September 30, 2024. The company also declared dividends on its 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock, totaling $664.0625 per preferred share, payable on the same date.
AGNC Investment Corp.’s recent equity pricing moves have slightly improved the safety of the preferred shares but have not done much for common share returns. The company’s tangible book value per share has shown improvement, and its 5.7% economic return metric was strong in the first quarter of 2024. However, AGNC’s leverage has inched up, and the company’s hedges on interest costs will eventually run out. Additionally, AGNC has been issuing equity at a high rate, which has diluted the potential upside for common shareholders. While the spread between mortgage-backed securities and Treasuries is currently favorable, AGNC’s longer-term track record suggests caution. The company’s preferred shares, particularly AGNCL, offer an interesting security with a wide spread to Treasuries.
Norfolk Southern Corporation (NYSE: NSC) has declared a quarterly dividend of $1.50 per share on its common stock. The dividend will be payable on July 1, 2023, to shareholders of record as of the close of business on June 15, 2023. This marks the company’s 167th consecutive quarterly dividend since its formation in 1982, reflecting its long-standing commitment to shareholder returns.
The Board of Directors of Comerica Incorporated (CMA) has declared a quarterly cash dividend for common stock of 71 cents ($0.71) per share. The dividend is payable on July 1, 2024, to shareholders of record at the close of business on June 14, 2024.
Comerica Incorporated has declared quarterly cash dividends for its common and preferred stock. The common stock dividend is payable on March 15, 2023, to shareholders of record as of March 8, 2023. The preferred stock dividend is payable on March 15, 2023, to preferred stock shareholders of record as of March 8, 2023.
