Smart Dividend Portfolio: Reserve Riches
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Dear Investor,
Welcome to our weekly edition of TipRanks’ Smart Dividend Portfolio & Newsletter.
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Market-Moving News: June 08, 2026
Resumed hostilities in the Middle East is expected to sharply depress investor sentiment. It’s unclear yet if the Israel-Iran-Lebanon triangle will lead to another protracted round of fighting, or if this will be a more limited engagement.
Either way, everyone will be paying attention to the signals from Jerusalem, Tehran, and of course, Washington, D.C.
Last week, stocks sank on Friday as a stronger-than-expected May jobs report pushed bond yields higher and hit the market’s biggest winners. The Dow Jones Industrial Average (DJIA) fell 1.35% to 50,866.78, while the S&P 500 (SPX) dropped 2.64% to 7,383.74. The Nasdaq (NDX) slid 4.77% to 28,957.60, marking its worst day since April 2025 as investors moved out of tech and momentum names.
The U.S. economy added 172,000 jobs in May, topping expectations, while the unemployment rate held steady at 4.30%. The report showed that the labor market remains resilient, but it also reduced investor hopes for a rate cut this year. The 10-year Treasury yield rose to 4.77%, keeping valuation pressure on growth stocks.
Bitcoin (BTC-USD) also came under pressure, falling 4.68% to $61,818.09 after sliding below $60,000 during the week. Gold (CL:XAUUSD) dropped 1.81% to $4,347.20, while oil (CM:CL) fell 2.31% to $90.33 as traders weighed Middle East supply risks against hopes for U.S.-Iran de-escalation.
Several major policy and deal headlines also shaped the week. S&P Dow Jones Indices said it would not fast-track SpaceX, Anthropic, or OpenAI into the S&P 500, sticking with its requirements around profitability and seasoning periods despite strong investor interest in high-profile AI and space companies.
The Trump administration also moved deeper into the AI debate, with President Trump announcing plans for the U.S. government to take financial stakes in leading AI companies, including Alphabet, Microsoft (MSFT), OpenAI, SpaceX, and Anthropic. The idea aims to build a closer public-private AI partnership, though investors will likely watch closely for details on ownership, regulation, and potential conflicts with existing shareholders.
The week ahead will likely keep investors focused on rates, AI spending, and whether the sell-off in momentum stocks continues. A strong labor market is good for the economy, but it also makes it harder for the Federal Reserve to justify cutting rates quickly. That leaves high-valuation tech stocks more exposed when yields rise.
AI remains the market’s biggest long-term growth story, but this week showed that even strong themes can stumble when positioning gets crowded. Investors may still favor companies tied to AI infrastructure, cloud demand, and advanced chips, but the bar for fresh gains looks higher after the Nasdaq’s sharp pullback.
The clearest takeaway is that the market has shifted from chasing winners to testing valuations. If yields remain elevated, defensive sectors may continue to attract capital. If bond pressure eases, the AI trade could regain some footing, but investors are likely to be more selective than they were during the rally.
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This Week’s Quality Dividend Stock Idea
Huntington Bancshares (HBAN) is a U.S.-based regional bank holding company that provides commercial banking, consumer banking, wealth management, mortgage, and payment services. The bank serves individuals, small businesses, middle-market companies, and large commercial clients through an extensive branch network and digital banking platforms. HBAN is one of the largest regional banks in the United States, with a strong presence across the Midwest and expanding operations in other growth markets.
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Branching Out
Huntington Bancshares traces its roots to 1866, when its predecessor bank was founded in Ohio. Over the following decades, the bank evolved from a local banking institution into one of the largest regional banks in the United States, achieving this growth through a combination of organic expansion, geographic expansion, and strategic acquisitions. Today, Huntington operates a diversified banking platform serving consumers, businesses, and commercial clients across a broad multi-state footprint.
A major turning point in Huntington’s modern growth strategy occurred following the 2008-2009 financial crisis, when management focused on strengthening the balance sheet, expanding core lending capabilities, and improving profitability. The bank broadened its commercial banking, wealth management, vehicle finance, mortgage, and capital markets businesses while investing in digital banking and customer service capabilities. These initiatives diversified revenue sources beyond traditional consumer banking and laid the foundation for sustained earnings growth.
Acquisitions became a central component of Huntington’s expansion strategy. In 2015, the bank acquired Macquarie Equipment Finance and rebranded the business as Huntington Technology Finance, expanding its national equipment finance platform and adding specialized healthcare and small-business financing capabilities. The following year, Huntington completed its acquisition of FirstMerit Corporation. The transaction increased Huntington’s assets to approximately $100 billion, made it Ohio’s largest bank by deposits, and expanded its network to nearly 1,000 branches across eight states, significantly strengthening its position throughout the Midwest. To satisfy regulatory requirements, Huntington divested from 13 Ohio branches and closed 38 overlapping Michigan locations.
The bank’s most transformational acquisition came in 2021 with the all-stock merger with TCF Financial Corporation, creating a banking franchise with nearly $168 billion in assets, $117 billion in loans, and $134 billion in deposits. In addition to significantly expanding Huntington’s geographic footprint and deposit base, the merger strengthened its commercial banking capabilities, enhanced operating scale, and was expected to generate approximately $490 million in annual cost savings. As part of the regulatory approval process, Huntington sold 14 Michigan banking centers to address antitrust concerns.
In recent years, Huntington has accelerated its expansion beyond its traditional Midwest footprint by targeting faster-growing markets in the South. A key step in this strategy was the acquisition of Dallas-based Veritex Holdings, which strengthened the bank’s presence in the Dallas-Fort Worth and Houston metropolitan areas. The integration has progressed smoothly, with Huntington completing the Veritex systems conversion during the first quarter of 2026. The acquisition also brought more than 6,000 new colleagues and approximately 1.5 million customers into the organization, significantly expanding the bank’s scale and market reach.
The bank further advanced its Southern growth strategy with the acquisition of Cadence Bank in February 2026 for approximately $8.3 billion. The transaction substantially increased the company’s presence across Texas and the Southeast while adding significant commercial and consumer banking operations. Management remains on track to complete the Cadence systems conversion in June 2026, marking another important integration milestone.
These acquisitions, combined with disciplined organic growth, have transformed Huntington from a predominantly Midwest-focused regional bank into a diversified banking franchise with more than 1,400 branches across 21 states and national commercial and vehicle finance operations. The bank’s larger scale, broader product offerings, expanded geographic reach, and growing presence in faster-growing Sunbelt markets have been key drivers of its long-term earnings growth and market expansion.
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Revenue Mosaic
Huntington Bancshares operates a diversified regional banking franchise that generates revenue from a broad mix of lending, deposit gathering, fee-based financial services, and specialized commercial finance activities. The bank’s business model is built around serving consumers, small businesses, middle-market companies, and large commercial clients through an extensive branch network, digital banking platforms, and a range of specialized financial services.
Like most banks, Huntington earns the majority of its revenue through net interest income. The bank gathers deposits from consumers and businesses and uses those funds to originate loans across multiple categories, including commercial and industrial lending, commercial real estate, residential mortgages, auto financing, equipment financing, and other consumer loans. The difference between the interest earned on these loans and the interest paid on deposits and borrowings, i.e. Net Interest Income (NII), represents Huntington’s primary source of earnings.
Beyond traditional banking, Huntington has steadily expanded its fee-generating businesses, creating additional revenue streams that are less dependent on interest rates and loan growth. These operations include wealth and asset management, trust services, brokerage, insurance, investment banking, capital markets advisory, payments, treasury management, mortgage banking, and equipment finance. The bank’s national vehicle finance and equipment finance businesses further diversify revenue while providing access to attractive commercial lending opportunities.
A key strength of Huntington’s business model is its combination of scale and diversification. Strategic acquisitions over the past decade have expanded the bank’s customer base, geographic footprint, and product offerings, while investments in digital capabilities and customer service have strengthened client relationships. The bank’s growing presence in faster-growing markets such as Texas and the broader Sunbelt also provides opportunities to capture loan growth, deposits, and new commercial banking relationships.
These factors support a favorable long-term earnings outlook. A larger deposit base provides low-cost funding for loan growth, while Huntington’s diversified mix of lending and fee-based businesses helps reduce reliance on any single revenue source. As the bank continues integrating recent acquisitions and leveraging its expanded scale, it is positioned to benefit from operating efficiencies, deeper customer relationships, and sustained growth in both revenue and profitability.
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Hidden Momentum
Management characterized its revised 2026 net interest income (NII) outlook as a recalibration rather than a deterioration in business conditions. The company lowered its standalone NII growth guidance to 11%–13% from 13%–15%, primarily reflecting changes in balance-sheet assumptions rather than weaker customer demand. Average loan growth is now expected to trend toward the midpoint of the company’s 5%–7% target range as Huntington intentionally reduces certain commercial real estate (CRE), particularly construction-related loans, as part of its ongoing effort to optimize the risk profile of its loan portfolio. While this decision modestly reduces loan growth, it also lowers concentration risk and supports long-term credit quality.
The revised outlook also reflects deposit costs declining more slowly than previously anticipated. In addition, Huntington increased cash balances held at the Federal Reserve by approximately $4 billion in response to geopolitical uncertainty, which reduced reported net interest margin (NIM) by roughly 2 basis points because cash earns lower yields than loans and many securities. Management emphasized that this liquidity has little economic impact and should not be interpreted as a sign of weakening fundamentals.
On the credit front, management described overall asset quality as stable and well controlled. Commercial real estate construction lending was identified as the only area receiving heightened scrutiny, with Huntington intentionally reducing exposure through a multi-year runoff strategy. No concerns were raised regarding other major lending categories, and management emphasized that the CRE reduction reflects proactive risk management rather than signs of deteriorating credit performance.
Despite the modest guidance revision, management reiterated its confidence in the company’s long-term earnings and profitability targets. To protect profitability, the company outlined a three-tier contingency plan that includes accelerating efficiency initiatives, reducing discretionary expenses, and slowing the pace of selected investments if necessary. Management believes these targets remain achievable due to expected cost and revenue synergies from recent acquisitions, declining funding costs, and growth opportunities across the expanded franchise.
A major focus remains the integration of Veritex Holdings and Cadence Bank. Huntington completed the Veritex systems conversion during the first quarter of 2026 and remains on track to complete the Cadence conversion in June 2026. The acquisitions added more than 6,000 employees and approximately 1.5 million customers while significantly expanding the bank’s presence across Texas and the Southeast. Cadence-related cost synergies are expected to reach a full run-rate by the fourth quarter of 2026, while $50 million to $75 million of revenue synergies have already been incorporated into the company’s 2026 outlook. Early results have been encouraging, with deposit production increasing 30% year-over-year in the Veritex footprint and 160% year-over-year following a deposit campaign within the Cadence franchise.
Management expects the fourth quarter of 2026 to provide the clearest picture of Huntington’s normalized earnings power as integration activities are completed and the benefits from recent acquisitions become fully reflected in results. This period is expected to serve as an important milestone in demonstrating the company’s ability to achieve its long-term profitability targets.
The bank also reiterated that its strategic priority is pursuing organic growth opportunities rather than pursuing another large acquisition. Following the Veritex and Cadence acquisitions, the company intends to focus on integrating these businesses and expanding market share in Texas and the Southeast. Any future acquisitions would likely be limited to bolt-on transactions representing roughly 5%–10% of assets and would only be considered after the current integrations are fully proven.
Beyond traditional banking activities, management expressed confidence that non-interest income, or fee-based revenue can continue growing at a double-digit pace, supported by payments, wealth management, and capital markets businesses. While the company’s long-term Investor Day target calls for high-single-digit fee-income growth, management believes near-term growth could exceed that level as revenue synergies from recent acquisitions continue to ramp. The acquisitions of Janney and TM Capital were highlighted as important contributors, becoming accretive within approximately three months and helping drive a record quarter for the capital markets business.
Capital return remains another key component of the investment case. Huntington recently authorized a new share repurchase program, which management described as an evergreen authorization reflecting the company’s multi-year capital-generation capacity. anticipated Basel III regulatory changes are expected to reduce risk-weighted assets by approximately 7.7% and increase the Common Equity Tier 1 (CET1) ratio1 by roughly 80 basis points. Because regulatory capital ratios are calculated by comparing a bank’s capital base against its risk-weighted assets, a lower RWA figure would automatically improve capital ratios even if the amount of capital remains unchanged. This additional capital flexibility could materially increase shareholder distributions beginning in 2027.
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1- The CET1 ratio measures a bank’s core capital strength by comparing its highest-quality capital, primarily common equity and retained earnings, to its risk-weighted assets. A higher CET1 ratio indicates a greater ability to absorb losses and support future growth.
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Profit Flywheel
Over the past five years, Huntington Bancshares has steadily expanded both its earnings power and franchise footprint. Revenue and EPS have grown at a CAGR of 6.2% and 7.4%, respectively, supported by the transformational acquisition of TCF Financial, growth in net interest income from an expanding loan and deposit base, and the continued development of higher-margin fee-based businesses such as capital markets, payments, and wealth management. More recently, the Veritex and Cadence acquisitions have further increased the bank’s scale and exposure to faster-growing markets in Texas and the Southeast, while merger synergies, technology investments, and disciplined expense management have helped improve profitability.
This momentum continued into the first quarter of 2026. Huntington reported adjusted EPS of $0.37, up 9% year-over-year, beating estimates, while reported earnings per share were $0.25 after acquisition-related charges. Adjusted pre-provision net revenue2 increased 36%, reflecting higher revenue generation, operating leverage, and contributions from recent acquisitions. Profitability remained strong, with adjusted return on tangible common equity3 (ROTCE) holding at 16.4%, while tangible book value per share4 increased 9% year-over-year to $9.55.
Net interest income remained a key earnings driver, increasing 33% year over year to $1.9 billion as the company benefited from acquisition-related growth and a favorable interest-rate environment. Net interest margin expanded to 3.24%, up nine basis points from the prior quarter. Management also maintained a higher level of liquidity during the quarter in response to geopolitical uncertainty, a move that strengthened the balance sheet while having only a modest impact on profitability.
At the same time, Huntington continued to diversify its earnings base through strong growth in fee-generating businesses. Total fee revenue reached $682 million during the quarter, driven by strong execution across loan syndications, advisory services, debt capital markets, fixed income, and rate-hedging activities. Although recent acquisitions contributed approximately $95 million of fee income, underlying organic fee revenue still increased by roughly 18% year-over-year. Capital markets delivered particularly strong results, with revenue rising nearly 60%, while payments revenue increased 21%, wealth management revenue grew 19%, and loan and deposit-related fees rose 28%.
The company also maintained disciplined expense control despite integrating multiple acquisitions. Normalized expenses increased by only $20 million sequentially, while management achieved approximately $50 million of baseline cost reductions through efficiency initiatives, including AI-enabled process automation. These efforts supported an improved late-2026 efficiency-ratio5 target in the mid-to-low 54% range, highlighting management’s focus on translating revenue growth into stronger profitability.
Credit quality and balance-sheet strength remained key differentiators. Net charge-offs were just 26 basis points, significantly below the peer median of 38 basis points, while criticized assets6 remained within historical norms. Non-performing assets were consistent with expectations following the Cadence acquisition, and reserve levels remained above peer averages. Huntington also maintained an adjusted CET1 ratio of 9.2%, comfortably within its targeted 9% to 10% operating range.
The bank’s funding profile remained particularly strong. Uninsured deposits were backed by liquidity equal to 173% of those balances, while 69% of deposits were insured, the highest proportion among publicly traded U.S. banks with more than $100 billion in deposits. Huntington also maintained a liquidity coverage ratio of 118%, providing ample resources to meet potential cash demands during periods of market stress. These metrics reflect a stable deposit base, conservative risk management, and sufficient financial flexibility to support future growth initiatives, acquisitions, and shareholder returns.
Looking ahead, management’s updated outlook largely preserves the company’s long-term earnings trajectory. Net interest income is now expected to finish toward the lower end of its projected growth range of 39% to 43%, including the contribution from Cadence, as slightly higher deposit costs and elevated liquidity balances create modest pressure on net interest margin. Management now expects net interest margin to trend in the high-3.20% range rather than the mid-3.30% range previously anticipated.
However, strength in other areas of the business is helping offset this pressure. The company narrowed its expense outlook toward the lower end of its guidance range, while strong performance across payments, wealth management, and capital markets prompted management to raise its noninterest income growth forecast to 31%–33%, four percentage points above its prior outlook. As a result, Huntington maintained its 2027 earnings-per-share target of $1.92 at the midpoint and its return on tangible common equity target of 18%–19%. The unchanged long-term outlook underscores the benefits of a more diversified revenue base and management’s confidence in the earnings potential of the expanded franchise.
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2- Pre-Provision Net Revenue (PPNR) represents a bank’s earnings from operations before accounting for loan-loss provisions and taxes. It is a key measure of underlying profitability and a bank’s capacity to absorb future credit losses.
3- Return on Tangible Common Equity (ROTCE) measures how efficiently a bank generates profits from shareholders’ tangible common equity, excluding goodwill and other intangible assets. It is one of the most important profitability metrics for bank investors because it reflects the return generated on the capital employed in the business.
4- Tangible Book Value per Share (TBVPS) represents a bank’s net tangible assets, excluding goodwill and intangible assets, divided by the number of shares outstanding. It is often viewed as the liquidation value of a bank.
5- Efficiency Ratio measures how much a bank spends to generate one dollar of revenue and is calculated by dividing non-interest expenses by total revenue. Huntington’s target of roughly 54%–55% would place it among the more efficient regional banks.
6- Criticized assets are loans or other credit exposures that bank examiners or internal credit officers have flagged as showing signs of weakness or deterioration, essentially, loans that are no longer considered fully performing and standard, but have not necessarily defaulted yet.
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Yield Vault
Huntington Bancshares has been consistently paying dividends for the past 37 years, reflecting its long-standing commitment to returning capital to shareholders. Following the challenges of the 2008–09 financial crisis, Huntington spent the following decade steadily rebuilding and growing its dividend as its franchise, earnings power, and capital base strengthened. The quarterly payout reached $0.15 per share by 2021 and was subsequently increased to $0.155 per share. Since then, the bank has maintained the dividend at this level, while continuing to deliver an attractive yield for income-focused investors.
Based on adjusted earnings, Huntington distributes approximately 40.4% of its profits through dividends, a level that leaves room for reinvestment and capital flexibility. The stock currently yields about 3.5%, nearly three times the financial sector average of 1.3%, making it particularly appealing to income-focused investors. Importantly, management believes upcoming regulatory changes and continued capital generation could provide additional flexibility for shareholder distributions over time. As integration benefits from the Cadence and Veritex acquisitions are realized and capital requirements become more efficient, Huntington could have greater capacity to increase both dividends and share repurchases while maintaining a strong balance sheet.
Alongside dividends, Huntington has increasingly relied on share repurchases to return capital. In 2025, the Board authorized up to $1 billion of common share repurchases, of which $150 million was executed during the first quarter of fiscal 2026. An additional $109 million was repurchased quarter-to-date in the second quarter of FY26. The Board subsequently replaced the prior authorization with a new $3 billion buyback program with no expiration date, reflecting management’s confidence in future earnings and capital generation. Management plans to repurchase approximately $550 million of stock in 2026 and $1.2 billion in 2027, with a goal of reducing shares outstanding by roughly 5% by the end of 2027.
Despite strong underlying business performance, Huntington’s share price has remained largely unchanged over the past year. Investor enthusiasm surrounding the Cadence and Veritex acquisitions, improving net interest income, favorable analyst sentiment, and the expanding buyback program helped drive a rally in late 2025 and early 2026. However, these gains were offset by acquisition-related expenses, temporary earnings dilution, and broader uncertainty surrounding interest rates and the regional banking sector.
From a valuation perspective, Huntington trades at a modest premium to its historical averages based on trailing non-GAAP P/E multiple, while its forward P/E multiple is broadly in line with historical averages and its forward price-to-book ratio remains below its historical average. This indicates that investors are not paying a significant premium for the bank’s anticipated future performance. Relative to regional banking peers such as U.S. Bancorp, KeyCorp, Fifth Third Bancorp, and Citizens Financial Group, Huntington’s shares trade toward the lower end of the valuation range based on trailing and forward P/E multiples. The same can be said for its forward price-to-book value. This suggests that much of the bank’s expected earnings growth, improving profitability, and expanding capital-return capacity may not yet be fully reflected in the current share price, potentially providing investors with an opportunity to benefit from future dividend growth and repurchase activity at a reasonable valuation.
Analysts remain bullish about HBAN as the bank has significantly expanded its revenue base, growing top-line revenue from $6.1 billion in 2021 to $13.3 billion over the trailing twelve months, while continuing to diversify its earnings through growing fee-based businesses. The bank has also delivered strong organic franchise growth, with robust increases in loans and deposits supporting long-term net interest income growth and funding stability. In addition, Huntington has demonstrated a strong track record of integrating acquisitions, successfully realizing synergies from recent transactions and positioning itself to capture further cost and revenue benefits from the Cadence integration.
Reflecting these factors, Street consensus implies approximately 18% upside from current share levels, while more optimistic estimates suggest potential gains of up to 21%. Discounted cash flow analysis also indicates that HBAN shares may be trading at a roughly 51% discount to their estimated intrinsic value, providing additional valuation support for long-term investors.
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Investing Takeaway
For dividend and income investors, Huntington Bancshares stands out as a compelling combination of yield, stability, and future capital-return potential. The bank has a long history of rewarding shareholders through dividends, supported by a diversified business model, a strong deposit franchise, disciplined risk management, and expanding fee-based revenue streams. Recent acquisitions have broadened its geographic footprint and earnings base, while ongoing integration efforts are expected to unlock additional cost savings and revenue opportunities. Importantly, management remains confident in the bank’s long-term profitability outlook despite near-term industry headwinds. With a conservative balance sheet, strong capital generation, growing buyback activity, and the potential for enhanced shareholder distributions as regulatory capital requirements become more efficient, Huntington appears well positioned to continue delivering attractive income while offering opportunities for dividend growth and capital appreciation over time.
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Dividend Investor Portfolio
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Portfolio News
▣ ADP’s (ADP) ex-dividend date is June 15, with the dividend expected to be paid on July 1.
▣ Amgen (AMGN) recently secured an important regulatory win after the European Commission approved its cancer drug Imdelltra (tarlatamab) for certain patients with advanced small cell lung cancer, an aggressive form of the disease with limited treatment options. The approval allows the drug to be used in adults whose cancer has progressed after initial chemotherapy treatment, expanding Amgen’s access to the European oncology market.
The decision was supported by a late-stage clinical study in which Imdelltra significantly outperformed standard chemotherapy, reducing the risk of death by 40% in patients receiving the drug as a second-line treatment. These results highlight the drug’s potential to become an important treatment option in a market where patients often have few effective alternatives.
The European approval follows the drug’s full approval in the United States late last year. Together, the U.S. and EU authorizations expand Imdelltra’s commercial opportunity and strengthen Amgen’s oncology portfolio, providing the company with another potential growth driver beyond its established medicines.
▣ Honeywell’s (HON) planned spin-off of Honeywell Aerospace is scheduled for this month, and it will begin trading as HONA on June 29. As a standalone company, Honeywell Aerospace expects adjusted earnings to reach $6.5 billion by 2030, supported by strong demand from both commercial aviation and defense customers. The business enters its independence with a $19 billion backlog, up 20% year-over-year, and projects annual revenue growth of 6% to 8% through 2030. Management plans to prioritize investments in manufacturing capacity and supply-chain expansion rather than aggressive shareholder distributions, mirroring the strategy adopted by aerospace-focused peers and positioning the company to capitalize on long-term industry growth. Meanwhile, Honeywell’s majority-owned quantum computing subsidiary, Quantinuum, successfully raised nearly $1.7 billion in its Nasdaq debut, highlighting the value embedded within Honeywell’s portfolio.
▣ JPMorgan Chase (JPM) may be exploring opportunities to expand its presence in the fast-growing private credit market, with a report from the New York Post suggesting that the bank could have interest in acquiring Carlyle Group’s private credit business, Carlyle Global Credit, if it were ever put up for sale. The unit managed approximately $194 billion in assets as of the end of 2024 and invests across a broad range of private lending markets.
The speculation follows comments from CEO Jamie Dimon indicating that JPMorgan is actively evaluating acquisition opportunities and could pursue a deal worth $10 billion to $20 billion over the next few years if the right opportunity emerges. While Dimon emphasized that the bank remains disciplined and is not eager to acquire assets at elevated valuations, industry bankers believe private credit and wealth management are among the areas where JPMorgan could seek expansion. Any potential interest in Carlyle Global Credit would align with the bank’s broader strategy of strengthening its alternative investment and lending capabilities.
▣ Philip Morris (PM) lowered its 2026 reported earnings outlook after incorporating a $500 million non-cash impairment charge related to its Canadian affiliate and updated foreign-exchange assumptions, including the impact of a stronger Russian ruble. As a result, the company now expects reported diluted EPS of $7.18 to $7.33 for the year.
However, the revision does not reflect a deterioration in the company’s underlying business performance. Excluding one-time adjustments totaling $1.13 per share, Philip Morris reaffirmed expectations for adjusted EPS of $8.31 to $8.46, representing growth of 10.2% to 12.2% from $7.54 in 2025 and broadly in line with Wall Street expectations. Even after removing the benefit of favorable currency movements, the company expects adjusted earnings to grow by 7.5% to 9.5%.
▣ VICI (VICI) announced a quarterly dividend of $0.45 per share, payable on July 18, with an ex-dividend date of June 9.
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Recent Trades
None at the moment, although we are considering adding a stock to our portfolio when the market conditions allow for an attractive entry point. Stay tuned.
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Portfolio Attributes
| Dividend Portfolio Yield |
Expected Dividend Growth | Expected Annual Income |
| 3.91% | +5.88% | $6,164.34 |
| Yield-on-Cost Adjusted, Weighted |
Average Analyst 12-Month Growth Outlook | 10K Per Stock at the Time of Purchase |
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Current Portfolio
| Name | EX-Dividend Date | Payment Date | Yield on Cost | Annual DPS |
| Automatic Data Processing (ADP) | Jun 15, 2026 | Jul 01, 2026 | 2.46% | $6.80 |
| Amgen (AMGN) | Aug 20, 2026 | Sep 10, 2026 | 3.27% | $10.08 |
| BlackRock (BLK) | Sep 03, 2026 | Sep 24, 2026 | 2.61% | $22.92 |
| Bank of Nova Scotia (BNS) | Jul 02, 2026 | Jul 29, 2026 | 5.98% | $3.21 |
| EOG Resources (EOG) | Jul 16, 2026 | Jul 30, 2026 | 3.06% | $4.08 |
| ExxonMobil (XOM) | Aug 13, 2026 | Sep 10, 2026 | 3.64% | $4.12 |
| Honeywell International (HON) | Aug 13, 2026 | Sep 03, 2026 | 2.39% | $4.76 |
| IBM (IBM) | Aug 06, 2026 | Sep 10, 2026 | 3.16% | $6.76 |
| JPMorgan Chase (JPM) | Jul 03, 2026 | Jul 31, 2026 | 3.43% | $6.00 |
| Kroger (KR) | Aug 13, 2026 | Sep 03, 2026 | 3.08% | $1.40 |
| Cisco Systems (CSCO) | Jul 02, 2026 | Jul 23, 2026 | 2.22% | $1.68 |
| PepsiCo (PEP) | Sep 03, 2026 | Sep 24, 2026 | 3.8% | $5.69 |
| Philip Morris (PM) | Jun 29, 2026 | Jul 15, 2026 | 6.06% | $5.88 |
| Qualcomm (QCOM) | Sep 03, 2026 | Sep 24, 2026 | 2.44% | $3.68 |
| VICI Properties (VICI) | Jun 18, 2026 | Jul 10, 2026 | 5.22% | $1.8 |
| Verizon (VZ) | Jul 09, 2026 | Aug 03, 2026 | 6.09% | $2.76 |
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Disclaimer
The information contained in this article represents the views and opinions of the writer only, and not the views or opinions of TipRanks or its affiliates and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy, or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment, and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices, or performance.
