Griffon Corporation (GFF) stock surged over 10% after reporting better-than-expected fourth-quarter earnings, driven by strong revenue growth, expanded EBITDA margins, and a significant increase in share repurchases. The company also announced a 20% hike in its quarterly dividend, signaling confidence in its future prospects.
Air Products and Chemicals, Inc. (APD) stock has skyrocketed over the past six months, fueled by strategic investments in high-return projects and a commitment to productivity improvements. The company’s focus on its gasification strategy and the successful completion of the Jazan project in Saudi Arabia are contributing to strong earnings and cash flow growth. APD’s dividend increase, robust financial performance, and positive outlook make it a stock worth watching.
Fifth Third Bancorp (FITB) has announced a 6% increase in its quarterly dividend, signaling strong financial performance and commitment to shareholder returns. The company also continues to repurchase shares, demonstrating its commitment to efficient capital allocation. While FITB’s valuation is currently slightly elevated, its robust growth prospects, including an expanding commercial payments platform, make it a stock worth watching for potential investors.
Marriott Global Corp (MAR) has announced a 21% increase in its quarterly dividend, reflecting the company’s strong financial performance and robust earnings growth. The new dividend rate is 63 cents per share, up from 52 cents previously. The dividend will be paid on June 28, 2024, to shareholders of record as of May 24, 2024.
Ameriprise Financial (AMP) delivered strong first-quarter results, exceeding analyst estimates and reporting a 9.6% dividend increase. The investment firm’s adjusted operating EPS reached $8.39, topping expectations of $8.20, and assets under management surged to $1.42 trillion. Ameriprise’s Advice & Wealth Management segment drove earnings growth, while the Asset Management and Retirement & Protection Solutions segments also reported notable improvements.
SAP reported weaker-than-expected fiscal first-quarter results due to its ongoing transformation efforts aimed at leveraging AI. Although cloud revenue increased by 24%, earnings per share and revenue missed analyst forecasts. The company maintained its 2024 outlook and announced a 7% increase in dividends.
