5 big dividends & buybacks this week: Costco's special dividend, Cigna's buyback
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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TE Connectivity approves a new $1.5 billion buyback, hikes dividend by 10%
TE Connectivity (NYSE:TEL) announced on Tuesday that its board of directors has authorized an increase in its share repurchase program by an additional $1.5 billion.
Furthermore, the board approved a recommendation to hike the company's quarterly dividend by 10% to $0.65 per share, or $2.60 per share annualized. This proposal is set to be submitted for approval by the shareholders at the company's annual general meeting scheduled for March 13, 2024.
Cigna announces a new $10B buyback
Cigna (NYSE:CI) announced that its Board of Directors approved an additional $10B for share repurchases, bringing the total authorization for stock buybacks to $11.3B. This announcement comes in the wake of previous reports indicating that the company ended negotiations to merge with Humana (NYSE:HUM). Following the announcement, shares jumped more than 16% on Monday.
«We believe Cigna's shares are significantly undervalued and repurchases represent a value-enhancing deployment of capital as we work to support high-quality care, improved affordability, and better health outcomes,» said CEO David M. Cordani.
Two hikes and a special dividend
Costco Wholesale (NASDAQ:COST) declared a special dividend of $15 per share, payable on January 12, 2024, to stockholders of record on December 28, 2023, with an ex-dividend date of December 27, 2023. The annual yield on the dividend is 2.4%.
Lamb Weston (NYSE:LW) hiked its quarterly dividend by
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