Special Dividend Bonanza: A look at US companies' generosity in 2024
Energy sector dominates with additional payments
In the ever-dynamic landscape of corporate finance, special dividends stand out as a gesture of generosity and financial strength. So far in 2024, the US market has witnessed an impressive array of 25 companies announcing special dividends, ranging from industry giants to smaller players. Let's delve into the highlights of this special dividend spree with the top-5 biggest companies based on market cap announcing special dividends in 2024.
1. Pioneer Natural Resources ($PXD)
Special Dividend: $1.31 per share
Regular Dividend Yield: 4.3%
Business: Pioneer Natural Resources is a leading independent oil and gas exploration and production company, primarily operating in the Permian Basin.
2. Diamondback Energy Inc ($FANG)
Special Dividend: $2.18 per share
Regular Dividend Yield: 4.6%
Business: Diamondback Energy is an independent oil and natural gas company engaged in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves.
3. FutureFuel Corp ($FF)
Special Dividend: $2.50 per share
Business: FutureFuel Corp is a leading manufacturer of diversified chemical products and bio-based products for various industries including aerospace, defense, automotive, and more.
4. American Financial Group ($AFG)
Special Dividend: $2.50 per share (annually)
Regular dividend yield: 2.1%
Years of increased dividends: 18
Business: American Financial Group is a holding company with interests in property and casualty insurance and annuity operations, primarily in the United States.
5. Ford Motor Co ($F)
Special Dividend: $0.18 per share
Regular Dividend: $0.15 quarterly
Regular Dividend Yield: 4.2%
Business: Ford Motor Company is an American multinational automaker that designs, manufactures, markets, and services a full line of Ford cars, trucks, SUVs, electrified vehicles, and Lincoln luxury vehicles.
These companies showcase not only their financial stability but also their commitment to rewarding shareholders. From the oil and gas sector to manufacturing and finance, diverse industries are contributing to this special dividend trend.
The most impressive special dividend payer in the United States is insurer American Financial with 18 consecutive years of dividend increases, double digit annual growth AND multiple special dividends every year
Additionally, noteworthy special dividends have been announced by other companies, including American Financial Group's annual special, Ford's strategic move in the automotive sector, and FutureFuel's position in the chemical industry.
The US market continues to surprise with its generosity, as even smaller players such as Piper Sandler, The Buckle, Guess?, and more contribute to this dividend spree. One stock, Helmerich & Payne, already paid two special dividends in 2024!
Stay tuned as the year progresses for further developments in this fascinating trend of special dividends! Later this year we will publish a list of all special dividends announced in 2024, exclusively available for paid subscribers!
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.