Harvard Corporate Governance

MAY 14, 2023

Such actions can pay dividends in social capital—a return on investment that, while not measured in dollars, can be just as valuable. While cost cutting is often the “standard playbook” response in this area, there is value in weighing all the options available to promote economic resiliency. more…)

Dividends 254

Dividends Marketability 254

Benzinga

OCTOBER 17, 2024

Realty Income Corporation (NYSE: O ), known as "The Monthly Dividend Company," is a Real Estate Investment Trust (REIT) with a unique approach to commercial real estate. This approach has differentiated the company in the REIT market, appealing to investors. Full story available on Benzinga.com

Dividends 52

Dividends Marketability 52

Brian DeChesare

MAY 3, 2023

When I started offering financial modeling training , I never expected to get questions about a methodology like the Dividend Discount Model (DDM). Otherwise, the written version follows: Why Use a Dividend Discount Model? The main argument in favor of the DDM is that it best represents what happens in real life when you buy a stock.

Dividends 64

Dividends Terminal Value Enterprise Value Equity 64

Auto Dealer Valuation Insights

JANUARY 9, 2023

As market and financial data for 2022 continue to roll in, we are beginning to prepare for our annual benchmarking study. One early finding is that investors clearly distinguished between companies that pay dividends and those that don’t. While it was a down year across the board.

Dividends 52

Dividends Marketability 52

Andrew Stolz

FEBRUARY 7, 2022

Highlights: End markets mature, no opportunities to grow. Massive dividend yield secured by strong cash generation. End markets mature, no opportunities to grow. ROEC’s revenue is mainly dependent on the growth of the end markets such as computers, phones, and tablets. The FCF yield shows ROEC’s dividend-paying potential.

Dividends 52

Dividends Net Debt EBIT Marketability 52

Musings on Markets

SEPTEMBER 5, 2024

Last Wednesday (August 28), the market waited with bated breath for Nvidia’s earning call, scheduled for after the market closed. This dance between companies and investors, playing out in expected and actual earnings, is a feature of every earnings season, especially so in the United States, and it has always fascinated me.

Marketability 134

Marketability Start-ups Discounted Cash Flow Market Capitalization 134

Chris Mercer

AUGUST 1, 2022

This eleventh post in the Deja Vu series involving restricted stock studies addresses an issue that is rarely mentioned in the context of the studies – of the impact of dividends on restricted stock discounts (RSDs). Of these 244 transactions, only 24 involved companies that paid dividends, or less than 10% of the transactions.

Dividends 52

Dividends Appraisal Marketability Start-ups 52

Benzinga

AUGUST 21, 2023

Greenlight has also issued a third seven-figure dividend to its shareholders, following the first-ever issuance of a dividend by an MSO in April of this year. In 2023, Greenlight has returned consecutive dividends that amount to over 13% of. of cultivation and manufacturing space in 6 states.

Dividends 52

Dividends Marketability 52

Brian DeChesare

JANUARY 4, 2023

Any discussion of the financial markets in 2022 needs to acknowledge one important fact upfront: it was the worst year for stocks and bonds since at least 1871. Meanwhile, disasters kept emerging in the riskiest parts of the market, such as crypto (see: FTX , Celsius, etc.), Total Gain Over Pre-Covid Market Levels: +54%.

Marketability 98

Marketability Start-ups Treasury Dividends 98

Harvard Corporate Governance

AUGUST 29, 2023

Although poor economic or stock price performance can increase vulnerability, even companies that are respected industry leaders and have outperformed the market and their peers have been and are being attacked.

Dividends 188

Dividends Marketability 188

Financial Times M&A

SEPTEMBER 26, 2024

Plus, Citi leans into private credit with new $25bn partnership and a huge dividend recapitalisation tests the market

Dividends 85

Dividends Marketability 85

Harvard Corporate Governance

NOVEMBER 3, 2023

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, November 3, 2023 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of October 27-November 2, 2023 Implementation of Share Buybacks and Their Impact on Corporate Governance Posted by Michael Seigne (Candor Partners Limited), (..)

Dividends 184

Dividends Equity Marketability 184

Benzinga

OCTOBER 8, 2024

The stock market's insatiable appetite for high-growth stories often leaves a trail of undervalued opportunities in its wake. Blue-chip stocks are the corporate world's stalwarts and frequently get overshadowed by the allure of the latest market darlings. A closer look at Cisco's valuation reveals potential undervaluation.

Dividends 52

Dividends Marketability Book Value Market Capitalization 52

Benzinga

OCTOBER 6, 2023

Special dividend estimated to be $1.5118 per share Payment of special dividend conditioned upon closing of merger, which is subject to stockholder approval BOSTON, Oct. The special dividend, which the Company estimates will be $1.5118 per share of Talaris common stock, will be payable in cash.

Dividends 40

Dividends Banking Marketability 40

The Guardian M&A

JUNE 14, 2024

Company has been under pressure, issuing several profit warnings amid slump in property market Business live – latest updates Crest Nicholson, the embattled housebuilder, has rebuffed a second all-share takeover approach from its larger rival Bellway valuing the group at about £650m. Continue reading.

Dividends 79

Dividends Marketability 79

Musings on Markets

JULY 17, 2023

I am not a market prognosticator for a simple reason. I am just not good at it, and the first six months of 2023 illustrate why market timing is often the impossible dream, something that every investor aspires to be successful at, but very few succeed on a consistent basis.

Marketability 98

Marketability Risk Premium Start-ups Treasury 98

Benzinga

SEPTEMBER 2, 2022

in what is a growing but challenging market.” the current market price). the current market price). SNDL Expands Its Footprint In The Rec Market. ” Regarding TerrAscend (OTC: TRSSF ) expanding its retail footprint in Michigan, Zuanic noted the move “goes against the grain for an MSO, (.)

Dividends 98

Dividends Marketability 98

Musings on Markets

MAY 20, 2022

Historical Data: 1930-2019 To see how this framework works in practice, let's start by looking at the performance of US stocks, across the decades, and look at the returns on stocks, broadly categorized based on market capitalization and price to book ratios.

Price to Book 102

Price to Book Dividends Beta Equity 102

Benzinga

JANUARY 12, 2024

billion a year ago, led by market beta on average AUM, positive organic base fee growth, and higher securities lending revenue. BlackRock Inc (NYSE: BLK ) reported Q4 FY23 revenue growth of 7% Y/Y to $4.631 billion, marginally above the consensus of $4.627 billion. billion from $3.40

Dividends 52

Dividends Beta Technology Marketability 52

Benzinga

APRIL 26, 2023

Salisbury"), (NASDAQ Capital Market: "SAL"), the holding company for Salisbury Bank and Trust Company (the "Bank"), announced results for its first quarter ended March 31, 2023. Net Interest and Dividend Income Tax equivalent net interest income of $11.3 million, were partially offset by common stock dividends paid of $0.9

Dividends 40

Dividends Banking Equity Book Value 40

Benzinga

SEPTEMBER 12, 2023

The company was bought out of liquidation a decade ago by two investment companies and then returned to the public market in 2016 with the ticker TWNK. With Smucker announcing the acquisition of Hostess Brands, some investors may be eyeing potential gains from the company’s dividends. a share ($4.24

Dividends 52

Dividends Enterprise Value Marketability 52

Andrew Stolz

JANUARY 17, 2022

Value play with strong dividend growth potential. Leading role in EV and hydrogen to reclaim market share. China is by far the strongest and fastest-growing market for heavy duty trucks in the world. It is the primary market for the company to realize future growth opportunities. Download the full report as a PDF.

Marketability 52

Marketability Dividends Net Debt Start-ups 52

Benzinga

NOVEMBER 9, 2023

CPI's Electron Device Business manufactures electronic components and subsystems primarily serving the aerospace and defense market. TransDigm Group Incorporated (NYSE: TDG ) has entered into a definitive agreement to acquire the Electron Device Business of Communications & Power Industries , a portfolio company of TJC, L.P.,

Dividends 52

Dividends Marketability Equity 52

Benzinga

APRIL 5, 2023

FedEx Consolidates Express and Other Units Under CEO Subramaniam To Save $4B In Costs, Boosts FY24 Dividend By 10% FedEx Corp (NYSE: FDX ) shared plans to bring FedEx Express , FedEx Ground , FedEx Services , and other FedEx operating companies into Federal Express Corporation , becoming a single company by June 2024. per share, to $5.04

Dividends 98

Dividends Technology Marketability 98

Musings on Markets

MAY 7, 2023

While differentiating between good and bad banks can be straightforward, it does not follow that buying good banks and selling bad banks is a good investment strategy, since its success depends entirely on what the market is incorporating into stock prices. Note the differences between the bank FCFE and bank dividend discount models.

Banking 91

Banking Price to Book Dividends Book Value 91

RNC

JUNE 20, 2024

It aids in identifying opportunities and managing risks effectively in the stock market. This intrinsic value is derived from various factors, including the company’s financial performance, growth prospects, industry dynamics, and market sentiment. ” or “How do they ensure they are not overpaying or underselling?”

Discounted Cash Flow 52

Discounted Cash Flow Dividends Comparable Company Analysis Price to Earnings 52

Global Finance

JULY 23, 2024

Significantly, Mizuho CEO Masahiro Kihara said the bank will either pass on the proceeds from its sales of equity holdings to investors as dividends or invest them in growth-directed activities, and Sumitomo Mitsui aims to reduce the market value of its equity holdings to less than 20% of the value of its consolidated net assets.

Price to Book 111

Price to Book Banking Dividends Equity 111

Valutico

AUGUST 30, 2023

Different industries have varying Terminal Growth Rates based on growth potential and market maturity. One approach is to use the industry average growth rate or the country’s economic growth rate, depending on the company’s market and geographical location. Another approach is the historical growth rate analysis.

Terminal Value 98

Terminal Value Dividends Weighted Average Cost of Capital Discounted Cash Flow 98

Chris Mercer

FEBRUARY 14, 2024

This second musing addresses the use of restricted stock studies to support marketability discounts in gift and estate tax appraisals prepared for the Internal Revenue Service (or for anyone, for that matter). And more than a few appraisers use these stale and tired studies to guess at marketability discounts in 2024.

Marketability 52

Marketability Dividends Appraisal Business Valuation 52

Sun Acquisitions

SEPTEMBER 27, 2024

While high-profile mega-deals frequently dominate headlines, mid-market transactions usually harbor invaluable lessons for aspiring entrepreneurs and seasoned executives. Let’s delve into some illuminating success stories from the mid-market landscape and distill the key takeaways. billion epitomizes this ethos.

Marketability 59

Marketability Dividends Technology Market Capitalization 59

Musings on Markets

JANUARY 21, 2023

It is the nature of stocks that you have good years and bad ones, and much as we like to forget about the latter during market booms, they recur at regular intervals, if for no other reason than to remind us that risk is not an abstraction, and that stocks don't always win, even in the long term. at the start of that year.

Equity 96

Equity Risk Premium Start-ups Dividends 96

Chris Mercer

FEBRUARY 23, 2024

My conclusion is that the various restricted stock studies are inadequate to meet current business valuation standards and that they should not be used as a basis for “guessing” the magnitude of marketability discounts for illiquid interests of closely held businesses.

Marketability 52

Marketability Terminal Value Dividends Discounted Cash Flow 52

RNC

JULY 2, 2024

Business valuation methods can vary, but they often include assessing the startup’s financial health, projected growth, market potential, and competitive landscape. Dividend Discount Model DDM estimates the present value of expected future dividends from owning a stock. How Business Valuation is Determined?

Business Valuation 52

Business Valuation Dividends Discounted Cash Flow Price to Earnings 52

Benzinga

MAY 9, 2023

Nexstar Media Group, Inc (NASDAQ: NXST ) reported a Q1 2023 net revenue growth of 3.9% billion, beating the consensus of $1.24 Revenues from Television Advertising declined 6% Y/Y to $425 million, comprising Core Advertising revenue that fell 2.6% Y/Y to $417 million and a 66.7% Y/Y decline in Political Advertising revenue to $8 million.

Dividends 52

Dividends Equity Marketability 52

Andrew Stolz

FEBRUARY 9, 2022

Superior network quality helps to defend market share. While the mobile market in the Philippines is already quite mature, PLDT sees good growth prospects for home broadband. Superior network quality helps to defend market share. Maintaining a superior quality is necessary to avoid losing customers in a mature market.

Marketability 52

Marketability Dividends Start-ups Banking 52

Musings on Markets

JANUARY 17, 2024

That positive result notwithstanding, the recovery was uneven, with a big chunk of the increase in market capitalization coming from seven companies (Facebook, Amazon, Apple, Microsoft, Alphabet, NVidia and Tesla) and wide divergences in performance across stocks, in performance. increase in market capitalization.

Risk Premium 79

Risk Premium Start-ups Equity Treasury 79

Chris Mercer

MARCH 29, 2024

Introduction and Conclusion My musings on the use of restricted stock discounts to estimate marketability discounts (or DLOMs) have led me to the conclusion: Restricted stock studies/discounts cannot be used to estimate DLOMs in any credible, standards-compliant manner. Three of the first four Mercer’s Musings posts address this issue.

Marketability 52

Marketability Appraisal Business Valuation Dividends 52