Thomson adds AI to its products

Article Excerpt

THOMSON REUTERS CORP. $233 is a buy. The company (Toronto symbol TRI; Conservative-Growth Dividend Payer Portfolio, Manufacturing Sector; Shares outstanding: 449.7 million; Market cap: $104.8 billion; Dividend yield: 1.2%; Dividend Sustainability Rating: Highest; www.thomsonreuters.com) sells specialized information and software to the legal, tax and accounting fields. It also owns the Reuters news service. Thomson last increased your quarterly dividend by 10.2% with the March 2024 payment. Investors now receive $0.54 U.S. a share instead of $0.49 U.S. The new annual rate of $2.16 U.S. yields 1.2%. Thanks to improving demand for Thomson’s legal and tax information products, revenue in the quarter ended June 30, 2024, rose 5.6%, to $1.74 billion U.S. from $1.65 billion U.S. a year earlier. However, earnings before unusual items fell 4.4%, to $0.85 U.S. from $0.88 U.S. That’s mainly due to increased spending on new growth projects, such as incorporating artificial intelligence features into its products. Thomson Reuters is a buy. buy…