Chasing the Yield
Investing for income through dividends and distributions
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Oaktree Specialty Lending (OCSL) increases dividend 1.9%
A quarterly cash distribution was declared of $0.55 per share, up 2% from $0.54 per share in the prior quarter and the eleventh consecutive quarterly distribution increase. The distribution is payable in cash on March 31, 2023 to stockholders of record on March 15, 2023. Armen Panossian, Chief Executive Officer and Chief Investment Officer, said, “We…
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AbbVie looks to new drugs amidst increased competition for Humira
Now that its blockbuster immune-disease therapy Humira is facing lower priced competition, AbbVie is turning to a pair of next-generation successors to replenish the billions of dollars in sales that will be lost, Chief Executive Richard Gonzalez said. It is also betting on four drug approvals by the end of next year. In addition, AbbVie is lifting a self-imposed…
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Chevron seeks energy exploration deal with Algeria
Over the past decade, U.S. companies have pulled back from operations in oil-and-gas-rich Middle Eastern and African countries they viewed as politically risky to focus on booming shale production at home. Yet Chevron, which is the world’s second-largest Western oil company by market capitalization, recently revived talks to invest in Algeria, people familiar with the matter said.…
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Public Storage makes $11 billion unsolicited all-stock offer for Life Storage, Inc.
Public Storage said it sent a letter to Life Storage’s management on Sunday detailing its all-stock proposal, worth about $129 a share, confirming an earlier report by The Wall Street Journal. Life Storage shares closed Friday at $110.58. The deal would have a so-called enterprise value, which includes net debt, of roughly $15 billion and…
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Public Storage increases dividend by 50%
This increase is their first since 2016. The yield jumps from about 2.7% to 3.9% Public Storage (NYSE:PSA) announced today that its Board of Trustees declared a 50% increase in the Company’s regular common quarterly dividend from $2.00 to $3.00 per share. The distribution equates to an annualized increase to the Company’s regular common dividend…
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CorEnergy (CORR) Suspends Dividend
CorEnergy Infrastructure Trust, Inc. (CORR) issued a press release this morning announcing the suspension of their dividend for the time being. This means income investors like me have to scramble to get out of the stock before the price drops too much from other investors jumping ship. As of today it’s down 12% which is…