Thomson Reuters Dividend Increase

TRI

Thomson Reuters Corp (TRI) announced a 1.49% increase in its cash dividend. The quarterly cash dividend will increase from US$0.335 to US$0.34 per share and payable on Mar 15, 2016 to shareholders on record as of Feb 23, 2016.

Thomson Reuters declares all its financials and hence the dividends in US$ even if shareholders own the TSX-listed stock.

Thomson Reuters is a Dividend Challenger and this is the 23rd consecutive annual dividend increase. The annual dividend rate goes up from US$1.34 to US$1.36. Yield going forward based on today’s closing price is 3.91%.

“Today’s results reflect the significant progress we have made putting the company back on solid footing,” said James C. Smith, president and chief executive officer of Thomson Reuters. “With the ship now turned, we have growing confidence in our strategy as we look to 2016 and 2017.” In addition, the company announced that it plans to repurchase up to an additional $1.5 billion of its shares as it has essentially completed its third $1 billion program announced in May 2015.

Our portfolio consists of 48 shares of Thomson Reuters, which increases our annual dividend from US$64.32 to US$65.28, an increase of US$0.96.

Thomson Reuters (TRI) Dividend Increase

TRI Thomson Reuters reported its quarterly earnings this morning, where it beat EPS estimates by $0.07. The company also announced that it will be increasing its annual dividends by $0.02, from $1.32 to $.134, a raise of 1.5%. This is the 22nd consecutive annual increase. The new quarterly dividend amount of $0.335 is payable on Mar 16, 2015 to common shareholders of record as of Feb 23, 2015.

From the earnings release statement:

  • Revenues grew 1% for the full year and the fourth quarter, before currency
    • Organic revenue flat for the full year and up 1% in the fourth quarter
  • Financial & Risk net sales were positive for both the full year and the fourth quarter
    • First year of positive net sales since 2008
  • Adjusted EBITDA increased 8% for the full year and was up 30% for the fourth quarter
    • The margin for the full year was 26.3% vs. 24.5% in the prior year
  • Underlying operating profit increased 14% for the full year and was up 65% for the fourth quarter
    • The margin for the full year was 17.0% vs. 15.0% in the prior year
  • Full-year adjusted EPS was $1.85 vs. $1.54 in 2013 and fourth-quarter adjusted EPS was $0.43 vs. $0.21 in the prior-year period
    • Excluding charges from both periods, adjusted EPS was $2.00 for the full year and $0.53 for the fourth quarter
    • Foreign currency had a $0.02 negative impact on adjusted EPS for the full year and fourth quarter
  • Board approves $0.02 annual dividend increase to $1.34 per share, representing the 22nd consecutive annual increase

2014 was a year of solid progress with good execution across the company, and marks the third consecutive year when we have met, or exceeded, our financial outlook,” said James C. Smith, chief executive officer of Thomson Reuters. “Our Financial business recorded its first year of positive net sales since 2008, and our Professional businesses continued to build from a solid foundation and take advantage of attractive growth opportunities. I am pleased to say that we expect to return to organic revenue growth and achieve greater profitability in 2015.

My portfolio consists of 48 shares of Thomson Reuters, increasing my annual dividends from $63.36 to $64.32, an increase of $0.96.

Thomson Reuters Corp (TRI) Dividend Increase

Thomson Reuters Corp (TRI) announced that it will be raising its dividends by 1.54%, an increase of annually from $1.30 to $1.32 (on the U.S listed security, NYSE: TRI). A quarterly dividend of $0.33 is payable on Mar 17, 2014 to common shareholders of record as of Feb 24, 2014. This dividend increase marks the 21st consecutive annual dividend increase by the company.

In 2013, the company returned approximately $400M to shareholders through repurchase of approximately 10.9M shares. Approx $300M of these repurchase in the fourth quarter of 2013 were part of the company’s previously announced plans to repurchase up to $1B of its shares by the end of 2014.