Newell (NWL) Extends Run on 5th Day Ahead of Dividends

We recently published 10 Stocks Shine Brighter Than Wall Street. Newell Brands Inc. (NASDAQ:NWL) is one of Monday’s top performers.

Newell Brands rallied for a fifth consecutive day on Monday, jumping 7.51 percent to close at $5.87 apiece as investors continued to gobble up shares ahead of the looming record date for its quarterly dividends.

According to Newell Brands Inc. (NASDAQ:NWL), it is scheduled to pay 7 cents in quarterly dividends to shareholders as of August 29. The dividends will be payable on September 15, 2025.

The dividend declaration followed an improved earnings performance in the second quarter of the year, during which Newell Brands Inc. (NASDAQ:NWL) grew its net income by 2.2 percent to $46 million from $45 million in the same period last year. This was despite a 4.8-percent decline in revenues at $1.935 billion versus $2.033 billion year-on-year, dragged by core sales decline, unfavorable foreign exchange, and business exits.

In the first half, net income fell by 75 percent to $9 million from $36 million year-on-year, while revenues decreased by 5 percent to $3.5 billion from $3.69 billion.

Looking ahead, Newell Brands Inc. (NASDAQ:NWL) became more optimistic about its business, with net sales now expected to decline by 2-3 percent versus the 2-4 percent previously.

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