In case you missed it, 2 big dividend hikes By Investing.com

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© Reuters.

By Davit Kirakosyan

Investing.com — Here are 2 big new dividend hikes, plus a couple of buyback announcements. Get this news in real time by signing up for InvestingPro.

Franco-Nevada Corporation (NYSE:) hiked its dividend by 6.3% to $0.34 per share, or $1.36 annualized, for an annual yield of 0.9%. The dividend will be payable on March 30, 2023, to stockholders of record on March 16, 2023, with an ex-dividend date of March 15, 2023. Shares were down 3.1% Tuesday.

Mercantile Bank Corporation (NASDAQ:) hiked its dividend by 3.1% to $0.33 per share, or $1.32 annualized, for an annual yield of 3.8%. The dividend will be payable on March 15, 2023, to stockholders of record on March 3, 2023, with an ex-dividend date of March 2, 2023.

Shares gained more than 4% after the company reported a .

Turning to buybacks, Prosperity Bancshares Inc (NYSE:) said it will repurchase up to 5% of its outstanding common shares, or some 4.6 million shares, over a one-year period. Shares were up marginally in the premarket.

And Ferguson Plc (NYSE:) announced that, in continuation of its $2.5 billion share repurchase program, it has entered into a non-discretionary arrangement with its brokers J.P. Morgan Securities PLC and J.P. Morgan Securities LLC commencing from January 16, 2023 and ending no later than March 20, 2023. The brokers will make trading decisions concerning the timing of the purchases of the shares independently of the company. Shares closed fractionally lower Tuesday.

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