7 big dividends: Eaton raises payout, Trinseo cuts by more than half | Pro Recap

By Davit Kirakosyan

Investing.com -- Here is your daily Pro Recap of the biggest dividend headlines you may have missed on InvestingPro. Start your free 7-day trial to get this news first.

Eaton's latest hike

Eaton (NYSE:ETN) hiked its dividend by 6.2% to $0.86 per share, or $3.44 annualized, for an annual yield of 2%. The dividend will be payable on March 24, 2023, to stockholders of record on March 6, 2023, with an ex-dividend date of March 3, 2023.

The company reported its Q4 results earlier this month, with both EPS and revenues coming in better than the consensus estimates.

Following the results, several brokerages raised their price targets on the stock, including Barclays with a new price target of $148.00 (from $130.00), and Wells Fargo with a new price target of $180.00 (from $169.00).

Trinseo shares down 2% after steep payout cut

Trinseo (NYSE:TSE) slashed its dividend by 56.3% to $0.14 per share, or $0.56 annualized, for an annual yield of $2.3%. The dividend will be payable on April 20, 2023, to stockholders of record on April 6, 2023, with an ex-dividend date of April 5, 2023.

Shares fell more than 2% pre-market today.

Earlier this month, the company reported its Q4 results, missing on both EPS and revenues.

BAYCOM doubles dividend

BAYCOM (NASDAQ:BCML) hiked its dividend by 100% to $0.10 per share, or $0.4 annualized, for an annual yield of 2%. The dividend will be payable on April 14, 2023, to stockholders of record on March 10, 2023, with an ex-dividend date of March 9, 2023.

4 more dividend hikes

Allison Transmission Holdings Inc. (NYSE:ALSN) raised its dividend by 9.5% to $0.23 per share, or $0.92 annualized, for an annual yield of 1.9%. The dividend will be payable on March 17, 2023, to stockholders of record on March 6, 2023, with an ex-dividend date of March 3, 2023.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) hiked its dividend by 8.2% to $0.925 per share, or $3.7 annualized, for an annual yield of 5.6%. The dividend will be payable on March 24, 2023, to stockholders of record on March 10, 2023, with an ex-dividend date of March 9, 2023.

Shares fell more than 5% yesterday after the company reported a Q4 EPS miss.

BankUnited, Inc. (NYSE:BKU) hiked its dividend by 8% to $0.27 per share, or $1.08 annualized, for an annual yield of 3.1%. The dividend will be payable on April 28, 2023, to stockholders of record on April 12, 2023, with an ex-dividend date of April 11, 2023.

Barings BDC, Inc. (NYSE:BBDC) hiked its dividend by 4.2% to $0.25 per share, or $1 annualized, for an annual yield of 11.5%. The dividend will be payable on March 15, 2023, to stockholders of record on March 8, 2023, with an ex-dividend date of March 7, 2023.

Shares rose 2% pre-market today following the company’s reported Q4 beat.