LSE sales will lift your dividend

Article Excerpt

THOMSON REUTERS CORP. $189 is a buy. The company (Toronto symbol TRI; Conservative-Growth Dividend Payer Portfolio, Manufacturing Sector; Shares o/s: 455.5 million; Market cap: $86.1 billion; Dividend yield: 1.4%; Dividend Sustainability Rating: Highest; www.thomsonreuters.com) continues to wind down its indirect stake in financial information provider Refinitiv. In January 2021, the company and Blackstone Group LP (New York symbol BX) merged Refinitiv with the London Stock Exchange (Over-the-counter Pink Sheets symbol LDNXF). In the first nine months of 2023, Thomson sold $5.4 billion U.S. worth of its LSE shares. Its remaining LSE shares are worth $1.7 billion U.S. The company is returning most of the proceeds to shareholders. That includes a new plan to buy back up to $1.0 billion U.S. of its shares over the next year. The cash will also let Thomson keep raising your dividend; the current annual rate of $1.96 U.S. a share yields 1.4%. Thomson Reuters is a buy. buy. …