Welcome and thanks for reading!
In this review, I
will make a summary of important and interesting news and events over
the last week related to my portfolio holdings. Also, I will put
together some interesting articles from other websites that caught my
attention during the past week.
Received
Dividends:
January 28, 2025
€67.36 –
Canadian Imperial Bank of Commerce (CM)
January 29, 2025
€86.88 –
Scotiabank (BNS)
January 31, 2025
€41.45 –
Edison International (EIX)€13.56 – LTC
Properties, Inc. (LTC)€103.80 – The
Toronto-Dominion Bank (TD)€69.12 – TC
Energy Corporation (TRP)€12.22 – South
Bow Corporation (SOBO)
Week 5: Total net
dividends €394.38
Dividend
income is reported after the deduction of taxes. Check more at my
Monthly
Dividend
sheet.
My Portfolio’s
Transactions:
January 30, 2025
I closed my V.F.
Corporation (VFC) position by selling 85 shares at $26.30 per share
plus commission.
At today’s
exchange rate, this sale of 85 VFC shares will reduce €21.94 of my
expected annual net dividend income.
I opened a new
position and purchased 15 shares of The Hershey Company (HSY) at
$150.24 per share plus commission.
At today’s
exchange rate, buying 15 shares of Hershey (HSY) at $150.24 per share
(plus a $5.21 commission) has increased my expected annual net
dividend income by €58.99. With a starting yield on cost of 3.64%,
HSY now makes up about 0.29% of your portfolio and contributes
approximately 0.24% to your future annual dividend income.
Portfolio Holdings
News:
January 27, 2025
AT&T
Inc. (T) Reports Fourth-Quarter Results; T reports fourth quarter
Non-GAAP EPS of $0.54, beating analyst estimates by $0.03 and flat
from a year ago. Revenue grew 0.9% to $32.3 billion, beating analyst
estimates by $360 million. T added 482,000 postpaid phone connections
during the quarter. The company also added 307,000 Fiber customers.
Mobile service revenue climbed 3.3% from a year ago to $16.6 billion,
and consumer broadband revenue was up 7.8% from a year ago to $2.9
billion. For the current year Management guides adjusted EPS of
between $1.97 and $2.07 and free cash flow, excluding DIRECTV,
projected to be $16 billion or more.
Eversource
Energy (ES) Announces Sale of Aquarion Water Company; ES
announced that it has entered into a definitive agreement to sell
Aquarion Water Company, its public water supply unit, to the Aquarion
Water Authority for a approximately $2.4 billion, including $1.6B in
cash and $800M of net debt.
UGI
Corporation (UGI) and Stonehenge Acquire Superior Midstream
Appalachian Pipeline Gathering Systems; UGI said its Pine Run
Gathering joint venture with Stonehenge Energy Resources III
purchased three gathering systems in western Pennsylvania from
Superior Midstream Appalachian for $120M, adding more capacity to its
natural gas transport system in the state.
US
Army Awards L3Harris Technologies, Inc. (LHX) Nearly $300 Million for
Resilient Communications Program; The U.S. Army has awarded LHX
full-rate Manpack and Leader radio production orders under the
Handheld, Manpack & Small Form Fit (HMS) program totaling nearly
$300 million.
Emerson
Electric Co. (EMR) to Acquire Remaining Outstanding Shares of
AspenTech; EMR and Aspen Technology, Inc. (NASDAQ: AZPN)
announced that they have reached an agreement under which Emerson
will acquire all outstanding shares of common stock of AspenTech not
already owned by Emerson for $265.00 per share pursuant to an
all-cash tender offer. The transaction values the minority stake
being acquired at $7.2 billion. The transaction is expected to close
in the first half of calendar year 2025.
January 28, 2025
General
Mills, Inc. (GIS) Completes Sale of Canadian Yogurt Business and
Updates Fiscal 2025 Outlook; GIS announced it has completed the
sale of its Canadian Yogurt business to Sodiaal. Management now
expects adjusted diluted EPS to range between down 4 percent and down
2 percent in constant currency, compared to the previous range of
down 3 percent to down 1 percent in constant currency.
Kimberly-Clark
Corporation (KMB) Reports Fourth Quarter and Full Year 2024 Results;
KMB reports Non-GAAP EPS of $1.50, down 0.7% year-over-year and
slightly missing analyst estimates by $0.01. Revenue of $4.93 billion
beating expectations by $70 million but marking a slight 0.8% decline
compared to the same quarter last year. Organic Sales Growth
increased 2.3%. Management guides adjusted operating profit to grow
at a high single-digit rate on a constant-currency basis including a
negative 320 basis point impact from a combination of its PPE
divestiture and the exit of the company’s private label diaper
businesses in the U.S.
Kimberly-Clark
Corporation (KMB) Declares Dividend Increase; The Board of
Directors of Kimberly-Clark Corporation (KMB) has declared an
increased quarterly dividend of $1.26 per share, representing a 3.3%
increase from the previous dividend of $1.22. The dividend will be
payable on April 2, 2025, to stockholders of record at the close of
business on March 7, 2025.
Starbucks
Corporation (SBUX) Reports Q1 Fiscal Year 2025 Results; SBUX
reported Q1 GAAP EPS of $0.69, reflecting a 23.3% decline
year-over-year but coming in $0.02 ahead of analyst expectations.
Revenue of $9.4 billion, slightly exceeding estimates by $90 million
and in line with analyst expectations. Global comparable store sales
declined 4%, driven by a 6% decline in comparable transactions. The
company opened 377 net new stores in Q1, ending the period with
40,576 stores: 53% company-operated and 47% licensed.
Lockheed
Martin Corporation (LMT) Reports Fourth Quarter and Full Year 2024
Financial Results; LMT reported Q4 GAAP EPS of $2.22, which
represents a sharp 70.7% decline compared to the same quarter last
year and came in $4.38 below analyst expectations. The results
included charges of $5.45 a share related to classified programs.
Revenue of $18.62 billion misses analyst estimates by $170 million
and decreased 1.3% versus the same quarter last year. LMT reported a
backlog of $176.04 billion, representing a 9.6% increase
year-over-year. For 2025 Management guides net sales Expected between
$73.75 billion and $74.75 billion, Diluted earnings per share from
$27.00 to $27.30 and Free cash flow between 6.6 billion and 6.8
billion.
RTX
Corporation (RTX) Reports Fourth Quarter and Full Year Results;
RTX reports Q4 Non-GAAP EPS of $1.54, beating expectations by $0.16
and reflecting a 19% year-over-year increase. Revenue Increased 8.5%
year-over-year to $21.62 billion, exceeding estimates by an
impressive $1.1 billion. Company backlog of $218 billion; including
$125 billion of commercial and $93 billion of defense. For full year
2025 Management guides adjusted sales of $83.0 – $84.0 billion,
including 4 to 6 percent organic growth, adjusted EPS of $6.00 –
$6.15 and Free cash flow of $7.0 – $7.5 billion.
Metro
Inc. (TSE:MRU) Reports 2025 First Quarter Results; MRU reported
quarterly adjusted earnings of C$1.10 per share for the quarter ended
December 31, higher than the same quarter last year, when the company
reported EPS of C$1.02. The result was ahead of analyst expectations
of $1.09 a share. Sales increased 2.9% to $5.12 billion, just below
the $5.13 billion forecast. Management expect to gradually resume our
profit growth in Fiscal 2025 and we maintain our publicly disclosed
annual growth target of between 8% and 10% of adjusted net earnings
per share over the medium and long term.
Metro
Inc. (TSE:MRU) Declares Dividend Increase; MRU has declared an
increased quarterly dividend of C$0.37 per share, representing a
10.45% increase from the previous dividend of C$0.335. The dividend
will be payable on March 2025, to stockholders of record at the close
of business on February 2025.
January 29, 2025
Tele2
AB (TEL2) Reports Full Year and Fourth Quarter 2024 Results; TEL2
profit slightly increasing year-over-year to SEK 971 million, or SEK
1.39 per share, compared to SEK 936 million (SEK 1.34 per share) last
year. Sales growth was modest at 1.3%, reaching SEK 7,783 million,
though it fell just short of the SEK 7,826 million analyst consensus.
The proposed dividend of SEK 6.35 per share is lower than last year’s
SEK 6.90. Meanwhile, the company’s 2025 guidance suggests low
single-digit organic growth in end-user service revenue.
U.S.
Coast Guard awards Verizon Communications Inc. (VZ) Business Task
Order; The U.S. Coast Guard has awarded Verizon Business an
8-year Enterprise Infrastructure Solutions (EIS) task order worth up
to $66 million over the life of the contract. Under this agreement,
Verizon will provide Wi-Fi, phone, data, and other services to the
U.S. Coast Guard’s C5I (Command, Control, Communication, Computer,
Cyber, and Intelligence) office.
Eversource
Energy (ES) Declares Dividend Increase; ES approved a quarterly
dividend of $0.7525 per share, 5.2% increase from prior dividend of
$0.7150, payable on March 31, 2025, to shareholders of record as of
the close of business on March 4, 2025.
V.F.
Corporation (VFC) Releases Third Quarter Fiscal 2025 Results; VFC
reports Q3 Q3 Non-GAAP EPS of $0.62, up 37.8% versus prior year and
$0.28 ahead of estimates. Revenue grew 1.8% to $2.83 billion, topping
estimates by $80 million. Management guides revenue at constant
currency falling 4% to 2% in FQ4 and Increasing FY’25 free cash flow
guidance to $440 million – Relative to prior guidance of $425
million.
General
Dynamics Corporation (GD) Reports Fourth-Quarter and Full-Year 2024
Financial Results; GD reports Q4 GAAP EPS of $4.15, beating
analyst estimates by $0.10 and reflecting a 14% year-over-year
increase. Revenue grew 14.3% to $13.34 billion, surpassing estimates
by $520 million. Ended the year with $90.6 billion in backlog.
Management projects $50.3 billion in revenue for 2025, a 5.5%
increase, with an operating margin of 10.3%, up 20 basis points. EPS
is forecasted at $14.80.
LyondellBasell
Industries N.V. (LYB) takes another step toward energy transition
with new power agreements; LYB said that it has signed two
significant power purchase agreements (PPAs) in Europe, further
supporting its commitment to reduce greenhouse gas emissions. With
15-year agreement with Vattenfall, LYB will secure 450 GWh annually
and with 10-year agreement securing 79 GWh annually of onshore wind
power from the Licata project in Sicily, Italy.
Canadian
Natural Resources Limited (TSE:CNQ) Announces Swap Transaction;
CNQ announces it will swap 10% of its working interest in the
Scotford upgrader and Quest carbon capture and storage facilities for
Shell’s (SHEL) remaining 10% working interest in the Athabasca oil
sands project mines, as well as working interests in various other
non-producing oil sands leases. As a result, CNQ will increase its
working interest in the AOSP mines to 100%, thus raising the
company’s production by approximately 31K bbl/day, and will own an
80% working interest in the Scotford upgrader and Quest.
January 30, 2025
Telia
Company (TELIA) year-end Report January – December 2024;
TELIA’s earnings per share for the last quarter were SEK -0.13.
Analysts were expecting earnings per share of SEK 0.30 for the fourth
quarter, compared to SEK -4.78 in the comparison period. Turnover in
October-December 2024 was SEK 23.7 billion. A consensus of 26
analysts compiled by Factset expected the company to generate SEK
23.3 billion in revenue. TELIA’s Board of Directors proposes to the
Annual General Meeting a dividend of SEK 2.00 per share to be
distributed to shareholders. Last year the company paid a dividend of
SEK 2.00 per share, which was the analyst consensus expectation.
Nordea
Bank Abp (NDA) Reports Fourth-quarter and full-year results 2024;
NDA reports fourth quarter EPS of €0.32, 3.23% above last year’s
result and was in line with expectations. Revenue grew 1% to €2,955
million, in line with expectations. CET1 ratio of 15.8%, the same as
in the third quarter and 150bp above the regulatory CET1 requirement.
NDA’s Board has proposed a dividend of €0.94 per share for 2024,
an increase of 2.17% compared with 2023.
Brookfield
Infrastructure (BIP, BIPC) Reports 2024 Year-End Results; BIP
reported FY24 funds from operations (FFO) of $3.12 per share,
exceeding analyst estimates by $0.02. This represents a 5.76%
increase compared to 2023. Revenue grew 17.3% to $21.04 billion,
which was $2.09 billion more than expected. Management expressed
confidence in achieving the $5 billion to $6 billion asset sale
target, supported by increased buyer activity and strong interest in
core infrastructure assets.
Brookfield
Infrastructure Corporation (BIPC) Increased Quarterly Dividend;
The Board of Directors of BIPC has declared a quarterly dividend of
$0.43 per share, 6.2% increase from prior dividend of $0.405, payable
on March 31, 2025 to shareholders of record as at the close of
business on February 28, 2025.
Cardinal
Health, Inc. (CAH) Reports Second Quarter Fiscal Year 2025 Results
and Raises Fiscal Year 2025 Outlook; CAH reports Q2 Non-GAAP EPS
of $1.93, beating analyst estimates by $0.17 and increased 2%
year-over-year. Revenue of $55.3 billion beats analyst estimates by
$330 million but decreased 3.7% versus the same quarter last year.
Management raised fiscal year 2025 non-GAAP EPS guidance to $7.85 to
$8.00, from $7.75 to $7.90.
Altria
Group, Inc. (MO) Reports 2024 Fourth-Quarter and Full-Year Results;
MO reports Q4 Non-GAAP EPS of $1.29, up 9.3% versus prior year and
$0.01 ahead of estimates. Revenue grew 1.6% to $5.1 billion, topping
estimates by $50 million. Management expect to deliver 2025 full-year
adjusted diluted EPS in a range of $5.22 to $5.37 and authorized a
new $1 billion share repurchase program, which the company expects to
complete by December 31, 2025.
L3Harris
Technologies, Inc. (LHX) Reports Fourth Quarter and Full-Year 2024
Results, Initiates 2025 Guidance; LHX reports fourth quarter
Non-GAAP EPS of $3.47, 3.6% above from last year and $0.05 more than
expected. Revenue of $5.5 billion was in line with analyst estimates
and grew 3.8% versus the same quarter last year. For 2025 Management
guides revenue of $21.8 – $22.2 billion, Non-GAAP diluted EPS of
$10.55 – $10.85 and adjusted free cash flow of $2.4 billion – $2.5
billion.
Visa
Inc. (V) Reports Fiscal First Quarter 2025 Results; V reports Q1
Non-GAAP EPS of $2.75, beating analyst estimates by $0.09 and
increased 14% year-over-year. Revenue of $9.51 billion beats analyst
estimates by $170 million and increased 10.6% versus the same quarter
last year. Management expects adjusted net revenue growth in the high
single to low double digits for FY 2025, supported by strong
performance in international transaction and value-added services.
Adjusted EPS growth is projected to be in the low teens.
United
Parcel Service, Inc. (UPS) Releases 4Q 2024 Earnings and Provides
2025 Guidance; UPS reports fourth quarter Non-GAAP EPS of $2.75,
11.3% above from last year and $0.22 more than expected. Revenue grew
1.6% to $25.3 billion, which was $120 million less than expected. For
the full year 2025 Management guides revenue to be approximately
$89.0 billion and operating margin to be approximately 10.8%.
Management also announced it has reached an agreement in principle
with its largest customer to lower its volume by more than 50% by the
second half of 2026.
Canadian
National Railway Company (TSE:CNR) Announces Fourth Quarter and
Year-End Results; CNR reports Q4 Non-GAAP EPS of C$1.82, missing
analyst estimates by C$0.10 and decreased 9.9% year-over-year.
Revenue decreased 2.5% to C$4.36 billion, topping estimates by C$10
million. Operating income of C$1,628 million, a decrease of C$190
million, or 10%. In 2025, Management expects to deliver 10%-15%
adjusted diluted EPS growth and over the 2024-2026 period, Management
continues to target compounded annual adjusted diluted EPS growth in
the high single-digit range.
Canadian
National Railway Company (TSE:CNR) Announces Dividend Increase;
CNR announced that its Board of Directors declares C$0.8875 per share
quarterly dividend, 5% increase from prior dividend of C$0.8450,
payable on March 31, 2025 to shareholders of record as at the close
of business on March 10, 2025.
January 31, 2025
Brookfield
Renewable (BEP, BEPC) Reports Fourth Quarter 2024 Results; BEP
reports Q4 FFO of $0.46, in line with analyst estimates and
increasing 21.1% year-over-year. Revenue of $1.43 billion misses
analyst estimates by $20 million but increased 8.3% versus the same
quarter last year.
Brookfield
Renewable Corporation (BEPC) Increased Quarterly Dividend; The
Board of Directors of BEPC has declared a quarterly dividend of
$0.373 per share, 5.1% increase from prior dividend of $0.355,
payable on March 31, 2025 to shareholders of record as at the close
of business on February 28, 2025.
Chevron
Corporation (CVX) Reports Fourth Quarter 2024 Results; CVX
reports fourth quarter Non-GAAP EPS of $2.06, down from $3.45 a year
earlier and $0.05 below of estimates. Revenue grew 10.7% to $52.23
billion, topping estimates by $3.82 billion. Increased 2024 worldwide
and U.S. production by 7 and 19 percent to record levels. CVX expects
to add $10 billion in annual free cash flow by 2026, led by growth in
upstream assets such as FGP and the Gulf of America.
Chevron
Corporation (CVX) Increases Quarterly Dividend; CVX’s Board of
Directors declared a 5% increase in the quarterly dividend to $1.71
per share, payable March 10, 2025, to all holders of record at the
close of business on February 14, 2025.
AbbVie
Inc. (ABBV) Reports Full-Year and Fourth-Quarter 2024 Financial
Results; ABBV reports Q4 Non-GAAP EPS of $2.16, 22.6% below last
year’s result and $0.10 less than expected. Revenue of $15.1 billion
beats analyst estimates by $270 million and increased 5.6% versus the
same quarter last year. Management guides adjusted diluted EPS
guidance for the full-year 2025 of $12.12 to $12.32.
U.S.
Navy Awards Lockheed Martin Corporation (LMT) $383 Million for Next
Generation of U.S. Deterrence at Sea; The U.S. Navy awarded
Lockheed Martin (NYSE: LMT) a $383 million cost-plus-incentive-fee
and cost-plus-fixed-fee modification to the existing Lockheed Martin
contract for development of the next generation of the Trident II
Strategic Weapons System (SWS) D5 missile to continue the nation’s
sea-based strategic deterrence.
Eaton
Corporation plc (ETN) Reports Fourth Quarter 2024 Results; ETN
reports fourth quarter Non-GAAP EPS of $2.83, beating analyst
estimates by $0.02 and increased 9.6% year-over-year. Revenue grew
4.5% to $6.24 billion, missing analyst estimates by $100 million.
Strong backlog growth of 27% in Electrical and 16% in Aerospace. For
full year 2025 Management guides adjusted earnings per share expected
to be between $11.80 and $12.20, up 11% at the midpoint over 2024.
LyondellBasell
Industries N.V. (LYB) Reports Fourth Quarter Results; LYB reports
Q4 Non-GAAP EPS of $0.75, 40.5% below last year’s result but $0.05
more than expected. Revenue of $9.5 billion beats analyst estimates
by $240 million but decreased 4.3% versus the same quarter last year.
Management is aligning first quarter operating rates with global
demand and expects to operate Olefins & Polyolefins Americas
assets at approximately 80%, Olefins & Polyolefins EAI assets at
approximately 75%, and Intermediates & Derivatives assets at
approximately 80%.
Articles that
caught my attention:
Undervalued
Dividend Growth Stock of the Week: Mondelez (MDLZ) by Jason
Fieber at Daily Trade AlertOur
U.S. stock portfolio, 10 years after on the Sunday Reads by Dale
Roberts at Cut the Crap Investing16
Companies Rewarding Shareholders With Raises by Dividend Growth
InvestorThe
Wide-Moat Express: Why Canadian National Is On Track For Unbeatable
Value by Leo Nelissen at Seeking Alpha2024
Goals and Resolutions – Q4 Update & Wrap Up by Bob at
Tawcan10
Investment Misconceptions by Charles Fournier at Financial
Freedom Is A JourneyThen
and Now – Enbridge by Mark at My Own AdvisorVerizon:
Financials Are Strong, The Dividend Of Almost 7% Is Safe, I Am Buying
by Steven Fiorillo at Seeking Alpha2025
List Of All 31 Utilities Sector Stocks | Top 10 Utility Stocks Now
by Bob Ciura at Sure DividendLockheed
Martin’s Share Price Weakness Is A Buying Opportunity by
Charles Fournier at Financial Freedom Is A Journey10
Undervalued Dividend Growth Stocks: January 2025 by FerdiS at
Seeking AlphaDo
not let politics influence your investment decisions by Dividend
Growth InvestorMy
Top Canadian Stocks to Buy for Outsized Gains in 2025 by Daniel
Kent at StocktradesBuy
Low, Sell Never – 2 Of My Favorite Dividend Stocks Are Major Bargains
Right Now by Leo Nelissen at Seeking AlphaDividend
Stocks vs. Bonds for Retirement Income: Which is Better? by
Simply Safe DividendsUnited
Parcel Service: Challenging Times For This Undervalued Leader by
Dividend Power at Seeking Alpha2025
Blue Chip Stocks List | 7 Best Blue Chips To Invest In by Bob
Ciura at Sure DividendCanada’s
Best Utility Stocks to Buy for January 2025 by Daniel Kent at
Stocktrades
Thanks for visiting, see you next week for another update!
Happy investing!