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6 big dividends & buybacks this week: Mastercard hikes by 15.8%, Broadcom by 14.1%

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

Unlock the potential of InvestingPro for up to 60% off this Cyber Monday Extended and never miss out on a market winner again.

Mastercard hikes dividend by 15.8%, approves new $11 billion share buyback

On Tuesday, Mastercard (NYSE:MA) increased its quarterly cash dividend by 15.8% to $0.66 per share, or $2.64 annualized, with an annual yield of 0.6%. The dividend will be payable on February 9, 2024, to stockholders of record on January 9, 2024, with an ex-dividend date of January 8, 2024.

Furthermore, the Board of Directors approved a new share repurchase program, authorizing the company to repurchase up to $11 billion of its Class A common stock. This new program will become effective following the completion of the existing $9B share repurchase program, which was announced in Dec 2022. As of Dec 1, 2023, about $3.5B remains available for repurchase under the current program.

Exxon Mobil announces plan to increase share buyback pace after Pioneer deal closes

Exxon Mobil (NYSE:XOM) announced on Wednesday a plan to accelerate its share buyback program following the successful acquisition of Pioneer Natural Resources (NYSE:PXD).

The company plans to increase its annual share repurchases to $20B through 2025 once the deal is closed. Additionally, ExxonMobil confirmed its progress in fulfilling its current commitment to return $17.5B to its investors this year, part of a larger $35B share buyback plan.

Broadcom hikes dividend by 14.1%

Broadcom (NASDAQ:AVGO) hiked its quarterly dividend by 14.1% to $5.25 per share, or $21 annualized, with an annual yield of 2.3%, as reported in real-time on InvestingPro.

The dividend will be payable on December 29, 2023, to stockholders of record on December 20, 2023, with an ex-dividend date of December 19, 2023.

Two more hikes and a special dividend

MBIA (NYSE:MBI) declared a special dividend of $8.00 per share, with an annual yield of 108.4%. The dividend will be payable on December 22, 2023, to stockholders of record on December 18, 2023, with an ex-dividend date of December 26, 2023.

As a result, shares jumped more than 81% on Friday.

Deere (NYSE:DE) hiked its quarterly dividend by 8.9% to $1.47 per share, or $5.88 annualized, with an annual yield of 1.6%. The dividend will be payable on February 8, 2024, to stockholders of record on December 29, 2023, with an ex-dividend date of December 28, 2023.

Owens Corning (NYSE:OC) raised its quarterly dividend by 15.4% to $0.60 per share, or $2.4 annualized, with an annual yield of 1.7%. The dividend will be payable on January 19, 2024, to stockholders of record on January 8, 2024, with an ex-dividend date of January 5, 2024.

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