8 Nov, 2021

No news is good news

Chasing the Yield – November 08, 2021

Episode 28




News

Teekay LNG Partners LP (TGP) announced they filed their proxy statement with the SEC relating to their merger with Stonepeak Limestone Holdings LP. If the merger is completed common unit holders will receive $17.00 per unit in cash.

Teekay LNG Partners L.P. (Teekay LNG) (NYSE:TGP) announces that it filed its proxy statement with the U.S. Securities and Exchange Commission (SEC) on November 2, 2021, relating to a special meeting of its common unitholders (Special Meeting) to vote on the previously announced proposed merger of Teekay LNG and Stonepeak Infrastructure Fund IV Cayman (AIV III) LP. The Special Meeting is scheduled for December 1, 2021 at 1:00 p.m., Atlantic Time, at the offices of Conyers Dill & Pearman Limited, Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda.

Holders of record of Teekay LNG’s common units as of the close of business on October 28, 2021, will be entitled to attend and vote at the Special Meeting, including any postponement or adjournment thereof.

Teekay LNG Announces Filing of Its Proxy Statement for Special Meeting to Approve Proposed Merger With Stonepeak – Teekay | Teekay

IBM Spinoff Kyndryl Starts Quest for Growth – WSJ

Pinnacle West Capital’s dividend upgraded to safe by Simply Safe Dividends

Using Pinnacle’s reaffirmed 5% to 7% long-term annual EPS growth target, and assuming management continues to grow the dividend about 2% per year, we estimate the firm won’t reach its payout ratio target until at least 2025.

While that is a long time to wait, it beats a dividend cut. And management’s updated financial plan seems likely to protect the payout while Pinnacle rebuilds its earnings power and files another rate case.

As a result, we are upgrading Pinnacle’s Dividend Safety Score from Borderline Safe to Safe.

Pinnacle Defends Dividend, Expects to Return Payout Ratio to Healthier Level as Earnings Rebuild (simplysafedividends.com)

Portfolio Update

Low
Yield
Medium
Yield
High
Yield
Week+1.96%+1.70%-1.31%
Month+1.96%+1.70%-1.31%
2021+18.50%+15.93%-4.54%
Inception+33.10%+9.80%-5.40%
Dividends Received this WeekAmount
$0.00

Dividends

  • Pinnacle (PNW) announced its next dividend of $0.85 per share, a 2.4% increase over the company’s previous payout of $0.83.
  • MPLX (MPLX) announced its next dividend of $0.705 per share, a 2.5% increase over the company’s previous payout of $0.6875.
  • Main Street (MAIN) announced its next dividend of $0.215 per share, a 2.4% increase over the company’s previous payout of $0.21.
  • Arrow Financial Corporation (AROW) announced its next dividend of $0.26 per share, a 3.0% increase over the company’s previous payout of $0.25243.
  • Sixth Street (TSLX) announced its next dividend of $0.41 per share, in line with the company’s previous payout.
  • Sabra (SBRA) announced its next dividend of $0.30 per share, in line with the company’s previous payout.
  • Public Storage (PSA) announced its next dividend of $2.00 per share, in line with the company’s previous payout.
  • T. Rowe (TROW) announced its next dividend of $1.08 per share, in line with the company’s previous payout.
  • Plains GP Holdings (PAGP) announced its next dividend of $0.18 per share, in line with the company’s previous payout.
  • Illinois Tool Works (ITW) announced its next dividend of $1.22 per share, in line with the company’s previous payout.
  • NewMarket (NEU) Corporation announced its next dividend of $2.10 per share, in line with the company’s previous payout.

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Disclaimer

ChasingTheYield.com and Kevin Bae are not registered investment advisors, brokers or dealers. Kevin Bae may have positions in any financial instrument, product, or company mentioned on chasingtheyield.com or on the Chasing the Yield podcast. Information provided by chasingtheyield.com and the Chasing the Yield Podcast is provided for information and entertainment purposes only and are not intended as advice or a recommendation or an offer or solicitation for the purchase or sale of any security or financial instrument. All opinions are based upon sources believed to be accurate and are provided in good faith. No warranty, representation, or guarantee, expressed or implied, is made as to the accuracy of the information contained herein. Past performance is not an indicator of future results.

Please contact an investment professional if you have any questions regarding an investment.

Contact

For questions or comments contact me at mail@chasingtheyield.com

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