Company doubles dividend and launches share-buyback program
- Bladex shares reach a new 52-week high
- Company doubles quarterly dividend
- Launches share-buyback program
- Fourth-quarter earnings show improvement
- Shares up 8.1% to $26.57
- Stock has surged 65% in the past 12 months
- Quarterly payout to shareholders raised to 50 cents
- Repurchase program authorized for up to $50 million
- Net profit for Q4 increases to $46.4 million
- Revenue surges 46% to $77.8 million
Shares of Banco Latinoamericano de Comercio Exterior (Bladex) reached a new 52-week high following the company’s announcement of improved earnings and a doubled quarterly dividend. The stock has surged 65% in the past year, and at 11:13 a.m. ET, shares were up 8.1% to $26.57. Bladex’s board of directors approved raising the quarterly payout to shareholders to 50 cents from 25 cents, representing a yield of 8.1%. The company also authorized a repurchase program of up to $50 million of its common stock. In the fourth quarter, Bladex posted a net profit of $46.4 million, a significant increase from $31 million in the same period last year. Revenue for the quarter surged 46% to $77.8 million. Chief Executive Jorge Salas expressed confidence in the company’s strategy and projected continued success in 2024.
Factuality Level: 8
Factuality Justification: The article provides factual information about Banco Latinoamericano de Comercio Exterior’s recent performance, including its increased dividend, share-buyback program, and improved earnings for the fourth quarter. The details about the stock price, dividend payout, and financial results are clearly presented without any apparent bias or misleading information. The article focuses on the company’s financial updates and future outlook, maintaining a factual tone throughout.
Noise Level: 3
Noise Justification: The article provides relevant information about Banco Latinoamericano de Comercio Exterior’s recent performance, including its increased dividend, share-buyback program, and improved earnings. It stays on topic and supports its claims with data and quotes from the company’s CEO. However, the article lacks in-depth analysis of the long-term trends or potential risks associated with the company’s strategies.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Banco Latinoamericano de Comercio Exterior
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the financial performance of Banco Latinoamericano de Comercio Exterior, including its increased dividend, share-buyback program, and better earnings for the fourth quarter. There is no mention of any extreme events or their impact.
Public Companies: Banco Latinoamericano de Comercio Exterior (Bladex)
Key People: Jorge Salas (Chief Executive)
Reported publicly:
www.marketwatch.com 
