FRAUENFELD, Switzerland, Sept. 26, 2025 (GLOBE NEWSWIRE) -- Aebi Schmidt Group (NASDAQ: AEBI) (“Aebi Schmidt” or the “Company”), a world-class specialty vehicles leader, confirms details of its first dividend payout. Following the completion of its merger with The Shyft Group and listing on Nasdaq under the ticker symbol “AEBI” as of July 1, 2025, Aebi Schmidt will pay its first dividend in the amount of $0.025 per share of common stock (CUSIP: H00501108), as initially announced on August 14, 2025. Sharehol ...

Core Viewpoint - Ferguson Enterprises' shares increased by as much as 9.8% following the release of mixed Q4 fiscal 2025 results, indicating a recovery from previous negative sentiment related to dividend announcements [1] Earnings, Revenue, and Dividend Support - Q4 revenue rose by 6.9% year over year, reaching $8.5 billion - Adjusted earnings per share increased from $2.98 to $3.48, marking a 17% rise, surpassing analyst expectations of approximately $3.29 per share on sales of around $8.7 billion [2] Management Guidance - Management provided mildly bullish guidance for fiscal year 2026, indicating expectations for widening adjusted operating margins and continued single-digit revenue growth [3] Investor Reassurance - The earnings release and conference call alleviated investor concerns regarding future dividends, despite previous warnings about challenges in cross-border cash movement affecting dividend payouts [4] Business Operations - Ferguson operates primarily in North America, benefiting from stricter air conditioning standards, which offset weaker demand for residential home improvement products in Q4 - Challenges include a slowing new construction market and uncertain long-term macroeconomic trends [6][7] Growth Strategy - The company completed nine acquisitions during the fiscal year and one additional acquisition after the period ended, indicating a commitment to ambitious growth plans [8]

Core Viewpoint - Mengniu reported a 16.4% year-on-year (YoY) net profit decrease alongside a 6.9% YoY revenue drop in 1H25, which was below expectations. However, the core operating profit margin (OPM) expanded by 1.5 percentage points YoY, attributed to lower raw milk costs and strict expense control. For FY25, management has revised down revenue guidance to a mid-single-digit (MSD%) or high-single-digit (HSD%) YoY decline, with core OPM expected to remain flat YoY [1][2][4]. Financial Performance - In 1H25, Mengniu's total revenue was RMB41.6 billion, down 6.9% YoY, and net profit was RMB2,046 million, down 16.4% YoY, both missing expectations. The core OPM increased to 8.5%, exceeding expectations due to gross profit margin (GPM) expansion from lower raw milk costs and disciplined expense management. Cash flow improved significantly, with cash flow from operations (CFO) at RMB2.8 billion, up from RMB1.9 billion in 1H24, aided by better working capital management and a 40% YoY reduction in capital expenditures (capex) to RMB1.0 billion [2][3]. Product Category Performance - Liquid milk sales fell by 11% YoY in 1H25, indicating weak dairy consumption demand. However, the YoY sales decline narrowed in Q2 compared to Q1. Other product categories, such as ice cream, milk formula, and cheese, showed resilient growth with YoY increases of 15%, 2%, and 12%, respectively [3]. Management Changes - A change in the CFO position was announced, with Mr. Ping Zhang retiring and Mr. Xinwen Shen appointed as the new CFO effective September 1, 2025. Mr. Shen has extensive experience, having served in various roles within COFCO Corporation Group for around 30 years [3]. Future Guidance - Management anticipates a revenue decrease of MSD% or HSD% YoY for 2025, with core OPM expected to stabilize at over 8%, indicating a half-on-half (HoH) decrease. The long-term OPM expansion target remains intact at +30-50 basis points each year, supported by potential mix upgrades and efficiency gains. Mengniu plans to renew its share repurchase program, potentially valuing up to HK$1 billion over the next 12 months, alongside a steady dividend payout ratio of over 45% based on adjusted net profit [4].

Financial Data and Key Metrics Changes - The company reported a statutory net profit of AUD 58.2 million for FY 2025, a decrease from AUD 110 million in the previous year [4] - Underlying net profit declined to AUD 26 million from AUD 32.2 million year-on-year, with underlying earnings per share dropping to AUD 0.056 from AUD 0.062 [4][5] - The final dividend declared for FY 2025 is AUD 0.28 per share, bringing the total dividend for the year to AUD 0.43, an increase of over 13% compared to FY 2024 [3][18] Business Line Data and Key Metrics Changes - Management fee revenue decreased by 57.6% compared to the prior period due to asset disposals [14] - Performance fees fell from AUD 11.3 million in FY 2024 to AUD 8 million in FY 2025, primarily attributed to Rock Group and VPC HoldCo [14] - The company achieved a 60% reduction in corporate costs during the financial year [5][27] Market Data and Key Metrics Changes - The fair value estimate of net asset value increased to AUD 15.51 per share at June 30, 2025, up from AUD 13.47 per share a year earlier, representing a growth of over 15% [12][23] - The cash reserves stood at AUD 138 million, despite the reduction due to the share buyback [20] Company Strategy and Development Direction - The company aims to accelerate growth by leveraging high-potential investment opportunities with existing boutique partners and exploring new investment prospects [26] - There is a continued focus on unlocking shareholder value through targeted capital structure initiatives [26] - The company plans to maintain disciplined cost management to support stability and capital efficiency [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong momentum built over the past two financial years and emphasized the importance of executing a clear and disciplined plan [25] - The Board is considering debt reduction to improve financial flexibility and resilience [28] Other Important Information - The company completed significant transactions, including the sale of its interest in Carlisle and a partial stake in Victory Park Capital, which contributed to cash inflows and asset realizations [8][9][10] - The investment management function was outsourced, leading to a significant reduction in corporate costs [16] Q&A Session Summary Question: Can you discuss the additional investments in existing affiliates? - The company is considering working capital loans and potential capital injections to support the growth of existing boutiques, without increasing equity stakes [32][34] Question: Any intentions regarding the Abacus instruments? - The company plans to hold the bonds long-term due to their attractive coupon, while monitoring the stock for potential liquidation in the short to medium term [37][39] Question: How does the investment committee approach capital allocation? - The newly formed investment advisory committee will evaluate opportunities based on their potential to deliver accretive growth, focusing on larger investments rather than numerous smaller ones [40][42]

Financial Data and Key Metrics Changes - Pacific Current Group reported a statutory net profit of AUD 58.2 million for FY 2025, a decrease from AUD 110 million in the previous financial year [4] - Underlying net profit declined to AUD 26 million from AUD 32.2 million year-on-year, with underlying earnings per share dropping to AUD 0.056 from AUD 0.062 [4][5] - The company declared a final dividend of AUD 0.28 per share, bringing the total dividend for FY 2025 to AUD 0.43, an increase of over 13% compared to FY 2024 [3][19] Business Line Data and Key Metrics Changes - Management fee revenue decreased by 57.6% compared to the prior period due to disposals of investments [14][15] - Performance fees dropped from AUD 11.3 million in FY 2024 to AUD 8 million in FY 2025, primarily attributed to Rock Group and VPC HoldCo [15] - Cost-saving initiatives led to a nearly 60% reduction in corporate costs during the financial year [5][29] Market Data and Key Metrics Changes - The fair value estimate of net asset value increased to AUD 15.51 per share at June 30, 2025, up from AUD 13.47 per share a year earlier, representing a growth of over 15% [13][25] - The company realized significant cash from boutique realizations, contributing to higher interest income [18] Company Strategy and Development Direction - The company aims to accelerate growth by leveraging high-potential investment opportunities with existing boutique partners and exploring new investment prospects [28] - Focus on unlocking shareholder value through targeted capital structure initiatives and optimizing capital efficiency [28][29] - Continued emphasis on controlling operating costs and strengthening the balance sheet, with potential debt reduction prioritized [30][31] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong momentum built over the past two financial years and emphasized a disciplined approach to executing their strategic plan [27] - The company remains focused on enhancing organizational efficiency and embedding governance changes to improve agility and decision-making [31] Other Important Information - The company completed a share buyback of over 22 million ordinary shares at AUD 12 per share, totaling close to AUD 265 million, which represented over 42% of issued capital at that time [2][3] - The company has cash reserves of AUD 138 million, despite the reduction due to the share buyback [22] Q&A Session Summary Question: Can you discuss the additional investments in existing affiliates? - The company is considering providing working capital loans to support the growth of boutiques and potentially injecting further capital into operating businesses for new fund initiatives [34][35] Question: Will the company pay back the debt? - The Board is evaluating the possibility of paying back the debt facility, with a decision expected in September or October [37][38] Question: What are the intentions regarding the Abacus instruments? - The company plans to hold the bonds long-term due to their attractive coupon, while monitoring the stock for potential short to medium-term sales [39][41] Question: How does the investment committee approach capital allocation? - The newly formed investment advisory committee will evaluate opportunities based on their potential for accretive growth, focusing on larger investments rather than numerous smaller ones [42][44] Question: What are the plans for the external management arrangement after two years? - The Board will review the external management arrangement as the two-year period approaches, but no plans have been finalized yet [47]

机构：中金公司 研究员：Wenjie ZHANG/Qibin FENG/Xin YANG 1H25 results beat our expectations Yuexiu Transport Infrastructure announced its 1H25 results: Revenue rose 14.9% YoY to Rmb2.10bn. Attributable net profit rose 14.9% YoY to Rmb361mn, beating our expectations due to higher-than-expected toll revenue growth and a notable decline in financial expenses. In 1H25, the firm paid an interim dividend of HK$0.12/sh (about Rmb0.1091), flat with 1H24, implying a dividend payout ratio of 50.6% (vs. HK$0.12/sh and 58.5% in 1H ...

Core Insights - Union Pacific Corporation (UNP) has approved a 3% increase in its quarterly cash dividend, raising it to $1.38 per share from $1.34, reflecting a commitment to enhance shareholder returns [1][4][9] - The dividend will be paid on September 30, 2025, to shareholders of record as of August 29, 2025, marking the 19th consecutive year of increased annual dividends per share [1][9] - In 2022, UNP paid dividends of $3.15 billion and repurchased shares worth $6.28 billion, while in 2023, dividends were $3.17 billion with share repurchases of $705 million [2] - For 2024, UNP rewarded shareholders with dividends of $3.21 billion and repurchased shares worth $1.51 billion, and in Q1 2025, dividends amounted to $804 million with share repurchases of $1.42 billion [2][9] - The long-term capital allocation strategy for 2025 includes a capital plan of $3.4 billion and share repurchases ranging from $4 billion to $4.5 billion [3] Industry Context - Other companies in the transportation sector, such as Ryder System, Delta Air Lines, and FedEx, have also announced dividend hikes in 2025, indicating a broader trend of rewarding shareholders within the industry [5][6][8][10] - Ryder System increased its quarterly dividend by 12%, while Delta Air Lines raised its dividend by 25%, showcasing confidence in their financial positions [6][8] - FedEx Corporation approved a 5.1% dividend hike, further emphasizing the trend of dividend increases among transportation companies [10][11]

Core Insights - FedEx (FDX) and United Parcel Service (UPS) are leading global package delivery companies, each offering a variety of shipping services and logistics solutions [1][2] - The analysis aims to determine which company currently holds a competitive edge and represents a smarter investment opportunity [2] FedEx (FDX) Overview - FDX is focusing on cost-cutting measures due to declining package volumes, influenced by geopolitical uncertainties, tariffs, and high inflation [3][4] - The company has shelved its revenue and earnings forecast for fiscal 2026, following three consecutive quarters of lowered outlooks for fiscal 2025 [4] - FDX's DRIVE initiatives have resulted in savings of $2.2 billion in fiscal 2025 and $1.8 billion in fiscal 2024, with an expectation of $1 billion in transformation-related savings for fiscal 2026 [5] - In June 2025, FDX increased its quarterly dividend by 5.1% to $1.45 per share, and repurchased $3 billion worth of shares in fiscal 2025, returning a total of $4.3 billion to shareholders [6] - FDX's liquidity position is strong, with a current ratio of 1.19 at the end of fiscal 2025, indicating sufficient assets to cover short-term obligations [7] United Parcel Service (UPS) Overview - UPS is experiencing a decline in package volumes due to economic uncertainty and high labor costs, prompting the company to implement cost-cutting measures [8][9] - UPS plans to reduce its workforce by 20,000, approximately 4% of its global workforce, and shut down 73 facilities to streamline operations [10] - The company has agreed to reduce its business with Amazon by over 50% by June 2026, as Amazon was not its most profitable customer [12] - UPS announced a 0.6% increase in its quarterly dividend to $1.64 per share, but concerns about the sustainability of this dividend arise due to an elevated payout ratio of 84% [13] - UPS's long-term debt burden was $19.5 billion at the end of Q1 2025, with a long-term debt-to-capitalization ratio of 55.4%, higher than the industry average [14] Comparative Analysis - Year-to-date, UPS shares have declined by 18.8%, while FDX shares have decreased by 15.2%, indicating better performance for FDX [16] - In terms of valuation, UPS has a forward P/E ratio of 13.66, compared to FDX's 12.76, suggesting that UPS is more expensive relative to its earnings [19] - The Zacks Consensus Estimate predicts a 4.2% decline in UPS's 2025 sales and a 9.2% drop in earnings, while FDX is expected to see a 1.6% increase in revenues and a 1.3% growth in earnings for fiscal 2026 [23][24] - FDX is projected to have a higher earnings growth rate of 10.4% over the next five years compared to UPS's 7.4% [26] - Overall, FDX appears to be a more attractive investment option than UPS based on valuation, price performance, and financial leverage [26]

Dividend Declaration - On 14 April 2025, INVL Baltic Farmland, AB announced a dividend allocation of EUR 0.12 per share [1] Dividend Payment Process - Dividends will be paid to shareholders who held shares by 29 April 2025, the tenth business day after the General Shareholders Meeting [1] - From 14 May 2025, dividends will be allocated to shareholders based on their shareholding accounts with financial brokerage companies or credit institutions, after applicable withholding taxes [2] Taxation on Dividends - For the year 2024, dividends paid to natural persons who are residents of Lithuania or foreign countries are subject to a 15% withholding Personal income tax [3] - Dividends paid to legal entities in Lithuania or foreign countries are subject to a 16% withholding Corporate income tax, unless specified otherwise by law [3] Contact Information - For additional information regarding dividend payouts, shareholders can contact Artea Bankas AB at +370 610 44447 [4] - The authorized contact person for further inquiries is Director Egle Surplienė, reachable via email at egle.surpliene@invaldainvl.com [4]

Group 1: Company Performance - Carlisle Companies Incorporated (CSL) is experiencing strong momentum in the Construction Materials segment, with a 2% year-over-year revenue increase in Q1 2025, driven by higher sales in the non-residential construction market and acquisitions [1] - The company anticipates mid-single-digit revenue growth for the Construction Materials segment in 2025, supported by strong contractor backlogs and customer demand [2] - CSL's acquisitions, including ThermaFoam, Plasti-Fab, and MTL Holdings, have positively impacted net sales growth by 4.6% in Q1 2025, expanding its product offerings and market presence [3][4] Group 2: Shareholder Returns - In Q1 2025, CSL rewarded shareholders with a dividend payment of $45.2 million, an increase of 8.9% year-over-year, and repurchased shares worth $400 million, up 166.5% year-over-year [5] Group 3: Challenges - The Weatherproofing Technologies segment is facing challenges, with organic revenues declining by 11.7% year-over-year due to lower volumes from a slowdown in the residential construction market and project delays [9] - The company is also dealing with rising raw material and labor costs, which have increased selling and administrative expenses by 16.3% and cost of sales by 1.8% year-over-year in Q1 2025 [10]