Orlando, FL -- (SBWIRE) -- 09/09/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Altria Group Inc (NYSE:MO), DryShips Inc. (NASDAQ:DRYS).
Altria Group Inc (NYSE:MO) stock climbed 0.44% to $34.40. The company on August 23 said its board has raised its quarterly dividend by 9.1% and also authorized a $700 million expansion of its share-repurchase program. Altria will raise its quarterly dividend to 48 cents a share from 44 cents, an increase that will cost the company roughly $322 million a year. The dividend yield is 5.7%. The company noted the dividend increase is consistent with Altria's dividend payout ratio target of about 80% of its adjusted earnings per share.
Additionally, the company on July 23 said its second-quarter earnings rose 3.3%, mostly owing to lower costs, as a decline in cigarette sales volume hurt revenue.
The company reported a profit of $1.27 billion, or 63 cents a share, up from $1.23 billion, or 60 cents a share, a year earlier. Adjusted earnings were up at 62 cents from 59 cents. Revenue, excluding excise taxes, decreased 1.2% to $4.53 billion, mostly owing to lower cigarette sales. Analysts polled by Thomson Reuters most recently projected earnings of 63 cents on revenue of $4.62 billion.
Are investors worried about the recent updates with MO? Find out with a free trend analysis HERE
DryShips Inc. (NASDAQ:DRYS) shares increased 4.16% to $2.88. The company on Sept. 3 announced that Ocean Rig announced that it has signed a supplemental agreement to amend certain provisions in its $1.35b Senior Secured Facility dated February 28, 2013.
Additionally, the company on August 7 announced its unaudited financial and operating results for the second quarter ended June 30, 2013. For the second quarter of 2013, the Company reported a net loss of $18.2 million, or $0.05 basic and diluted loss per share. The Company reported Adjusted EBITDA of $112.3 million for the second quarter of 2013, as compared to $140.2 million for the second quarter of 2012.
Moreover, the company on July 23, an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. ("Ocean Rig"), announced that Ocean Rig has signed definitive documentation with Total E&P Angola, following the previously announced Letter of Award, for its ultra deepwater drillship "Ocean Rig Skyros."
Is DRYS going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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