"Same-store sales excluding fuel decreased by 2.5% compared to COVID-elevated sales levels last year"Empire raises their dividend 10%, stock price drops 8%
The share price has gone from $13 to $78 in the last two years. Perhaps not the best time to be buying back shares.^ I don't really understand the appeal of special dividends. Why do this vs. stock buy back? The special dividend is just flung off cash and impacts market cap one time, and then it's all over. What's the benefit?
Retiring shares however permanently reduces future quarterly dividend obligations (or gives future dividend growth for "free" without increasing the $ amount) and implies upward pressure on share price.
Thank you for posting.This increase is in line with the historic approx. 4% a year increase since 2018
Beautiful!Fortis Inc. Announces Quarterly Dividend Increase Marking 49 Consecutive Years of Increases
ST. JOHN'S, Newfoundland and Labrador, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) declared a common share dividend of $0.565 per share on the issued and outstanding fully paid common shares of the Corporation, representing an approximate 6% increase in the quarterly dividend, payable on December 1, 2022 to the common Shareholders of Record at the close of business on November 17, 2022, marking 49 consecutive years of increased dividends.