5 big dividends & buybacks this week: AutoZone, Rayonier

Investing.com — Here is your Pro Recap of the biggest dividend hikes, special dividends, and share-buyback announcements you may have missed this week.

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AutoZone announces new $2 billion share buyback

AutoZone (NYSE:AZO) declared that its Board of Directors approved an additional $2.0 billion for the buyback of the company's common stock, as a part of its continuing share repurchase program.

Since this program began in 1998, the Board of Directors has now authorized a total of $37.7B for stock repurchases.

Rayonier declares a special dividend

Rayonier (NYSE:RYN) declared a special dividend of $0.20 per share, with an annual yield of 0.6%.

The dividend will be payable on January 12, 2024, to stockholders of record on December 29, 2023, with an ex-dividend date of December 28, 2023.

Three dividend hikes

WEC Energy Group (NYSE:WEC) raised its quarterly dividend by 7.1% to $0.835 per share, or $3.34 annualized, with an annual yield of 4%. The dividend will be payable on March 1, 2024, to stockholders of record on February 14, 2024, with an ex-dividend date of February 13, 2024.

Fulton Financial (NASDAQ:FULT) raised its quarterly dividend by 6.3% to $0.17 per share, or $0.68 annualized, with an annual yield of 4.1%. The dividend will be payable on January 12, 2024, to stockholders of record on January 2, 2024, with an ex-dividend date of December 29, 2023.

ServisFirst Bancshares (NYSE:SFBS) hiked its quarterly dividend by 7.1% to $0.30 per share, or $1.2 annualized, with an annual yield of 1.8%. The dividend will be payable on January 8, 2024, to stockholders of record on January 2, 2024, with an ex-dividend date of December 29, 2023.

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