The 4 Hottest Dividend Announcements This Week: ConocoPhillips, Petrobras and More

By Davit Kirakosyan and Sarina Isaacs

Investing.com - Here is the week’s hottest dividend news from this past week, plus the most important buybacks, first covered on InvestingPro+.

Dividends

ConocoPhillips (NYSE:COP) hiked its dividend by 11% to $0.51 per share. the dividend will be payable on December 1, 2022, to stockholders of record on November 15, 2022. Shares climbed some 5% for the week.

Petroleo Brasileiro Petrobras SA ADR (NYSE:PBR) announced a dividend of 3.3489 Brazilian reais, or $0.94, totaling 43.7 billion reais ($8.5 billion). The dividend will be paid in two equal installments, on December 20, 2022 and on January 19, 2023, for shareholders of record on B3 on November 21, 2022 and for ADR holders on the NYSE on November 23, 2022. The ex-dividend date for holders on both exchanges will be November 22, 2022. Even so, Petrobras shares were down 2.4% for the week amid controversy over its massive payouts.

CVR Energy (NYSE:CVI) declared a special dividend of $1 per share, and a $0.40 regular quarterly dividend. Both dividends are payable on November 21, 2022, to stockholders of record on November 14, 2022, with an ex-dividend date of November 10, 2022. Shares were up marginally for the week.

Enact Holdings Inc (NASDAQ:ACT) declared a special dividend of $1.12 per share. The dividend will be payable on December 6, 2022, to stockholders of record on November 18, 2022, with an ex-dividend date of November 17, 2022. The annual yield on the dividend is 4.5 percent. The company also announced a 75 million share repurchase program. Shares rose 1.7% on the news, and were up fractionally for the week.

Buybacks

ConocoPhillips, in addition to its dividend hike, also added $20 billion to its existing share-repurchase authorization, bringing the program to a total of $45 billion. Since the program's inception in late 2016, the company has repurchased $20.7 billion in shares. shares were up aobut 5% for the week.

Monster Beverage (NASDAQ:MNST) authorized a new share repurchase program of up to an additional $500 million of its outstanding common stock. Shares rose 4.5% for the week.

ING Group NV ADR (NYSE:ING) announced the start of a share buyback program under which it plans to repurchase ordinary shares of ING Groep (AS:INGA) N.V., for a maximum total amount of €1.5 billion. The buyback program will have an expected pro-forma impact of roughly 44 bps on the company’s CET1 ratio, which stood at 14.7% at the end of Q3, well above the prevailing CET1 ratio requirement of 10.52%. Shares jumped more than 10% for the week.

California Resources (NYSE:CRC) Corporation said it increased its share repurchase program by $200 million to $850 million and extended the program through December 31, 2023. Shares soared more than 8% for the week.

Orion Engineered Carbons SA (NYSE:OEC) announced a share repurchase authorization of up to $50 million of its outstanding common stock. Shares rose 4.7% for the week.