Sunny skies and 70 degrees -- this is north Texas on New Year's Eve and Olivia's soccer team winning this morning's tournament game, 6 - 0.
Rock my world:
Saudi Arabia foreign exchange reserves: link here.
US natural gas records: link here.
Laser-focused on dividends: link here.
Companies in the S&P 500 allocated an estimated $561 billion toward dividends in 2022, up from $511.2 billion in 2021 and the highest amount on record.
Dividend spending is poised for another record in 2023 as companies are under pressure from investors to keep increasing returns ....“There is still a lot of cash on corporate balance sheets. You’d have to have significant pullback for there not to be a record [in 2023] at this point.”
Other shareholder returns, such as buybacks, are expected to decline slightly from a total of around $963 billion in 2022, as a 1% excise tax is set to take effect in January.
S&P 500 companies spent $210.8 billion on stock buybacks in the third quarter, down about 10% from a year earlier.
Among the businesses that increased dividends in 2022 were chip maker Broadcom Inc., fast-food giant McDonald’s Corp., credit-card firm Visa Inc. and biopharmaceutical business AbbVie Inc.
For example, Broadcom in December said it was boosting its quarterly dividend by 12% to $4.60 a share for the fiscal year ending October 2023, pointing to strong cash flows over the past year and the expectation of continued demand in most of its markets.
Broadcom: cash and cash equivalents were $12.4 billion as of Oct. 30, 2022, up 2% from a year earlier, a filing showed. It paid $7 billion in cash dividends for the year ended October 30, 2022, up 13.2% from the prior-year period.
Dividends are also set to get a boost in 2023 as some of the companies that cut or pared payouts early in the pandemic bring them back. Nearly 190 U.S.-listed companies stopped paying dividends in 2020 to preserve cash as the pandemic closed swaths of the economy.
Thirty-nine returned to them that same year, 53 followed suit in 2021, and roughly 30 have done so this year.
I have to thank a reaeder for alerting me to Broadcom, now a significant part of my "new money" allocation, 30-year plan.
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